NorthCoast Asset Management LLC lowered its position in Freeport-McMoran, Inc. (NYSE:FCX) by 19.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,689 shares of the natural resource company’s stock after selling 19,293 shares during the period. NorthCoast Asset Management LLC’s holdings in Freeport-McMoran were worth $1,133,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Manhattan Co. grew its holdings in shares of Freeport-McMoran by 0.3% in the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after acquiring an additional 33 shares during the period. IHT Wealth Management LLC lifted its position in Freeport-McMoran by 27.1% during the second quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock valued at $843,000 after purchasing an additional 375 shares in the last quarter. Guardian Capital Advisors LP lifted its position in Freeport-McMoran by 1.2% during the second quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock valued at $427,000 after purchasing an additional 400 shares in the last quarter. Argent Trust Co lifted its position in Freeport-McMoran by 4.4% during the second quarter. Argent Trust Co now owns 11,818 shares of the natural resource company’s stock valued at $142,000 after purchasing an additional 500 shares in the last quarter. Finally, Freestone Capital Holdings LLC lifted its position in Freeport-McMoran by 1.1% during the second quarter. Freestone Capital Holdings LLC now owns 47,314 shares of the natural resource company’s stock valued at $568,000 after purchasing an additional 507 shares in the last quarter. 69.68% of the stock is owned by institutional investors.
In other Freeport-McMoran news, COO Harry M. Iv Conger acquired 36,180 shares of the stock in a transaction dated Thursday, September 7th. The shares were acquired at an average cost of $15.23 per share, for a total transaction of $551,021.40. Following the completion of the transaction, the chief operating officer now directly owns 73,943 shares of the company’s stock, valued at $1,126,151.89. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.29% of the stock is owned by insiders.
Several research firms recently weighed in on FCX. Vertical Research reiterated a “buy” rating and set a $20.00 target price on shares of Freeport-McMoran in a research report on Tuesday, August 29th. Jefferies Group LLC set a $18.00 target price on Freeport-McMoran and gave the company a “buy” rating in a research report on Monday, August 28th. BidaskClub upgraded Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Deutsche Bank AG downgraded Freeport-McMoran from a “hold” rating to a “sell” rating and set a $13.00 target price on the stock. in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus set a $15.00 target price on Freeport-McMoran and gave the company a “hold” rating in a research report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.54.
Freeport-McMoran, Inc. (NYSE:FCX) opened at $14.35 on Friday. Freeport-McMoran, Inc. has a 52-week low of $11.05 and a 52-week high of $17.06. The company has a market capitalization of $20,772.92, a PE ratio of 15.77 and a beta of 2.57. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the previous year, the business earned $0.13 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis. sell-side analysts predict that Freeport-McMoran, Inc. will post 1.07 EPS for the current fiscal year.
Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.
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