Mitsubishi UFJ Trust & Banking Corp raised its holdings in Freeport-McMoran, Inc. (NYSE:FCX) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,883,445 shares of the natural resource company’s stock after buying an additional 98,198 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.20% of Freeport-McMoran worth $40,484,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. WINTON GROUP Ltd bought a new stake in shares of Freeport-McMoran in the 3rd quarter worth approximately $1,575,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Freeport-McMoran in the 3rd quarter worth approximately $251,000. Zeke Capital Advisors LLC bought a new stake in shares of Freeport-McMoran in the 3rd quarter worth approximately $253,000. Amalgamated Bank grew its position in shares of Freeport-McMoran by 11.9% in the 3rd quarter. Amalgamated Bank now owns 156,847 shares of the natural resource company’s stock worth $2,202,000 after buying an additional 16,683 shares during the last quarter. Finally, Cadence Capital Management LLC bought a new stake in shares of Freeport-McMoran in the 3rd quarter worth approximately $552,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.
In related news, COO Harry M. Iv Conger acquired 36,180 shares of the stock in a transaction on Thursday, September 7th. The stock was acquired at an average price of $15.23 per share, for a total transaction of $551,021.40. Following the completion of the purchase, the chief operating officer now owns 73,943 shares of the company’s stock, valued at $1,126,151.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is currently owned by insiders.
Freeport-McMoran, Inc. (NYSE FCX) opened at $14.11 on Monday. The stock has a market capitalization of $20,425.49, a price-to-earnings ratio of 15.51 and a beta of 2.56. Freeport-McMoran, Inc. has a one year low of $11.05 and a one year high of $17.06. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.32 and a current ratio of 2.02.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 earnings per share. equities research analysts forecast that Freeport-McMoran, Inc. will post 1.07 EPS for the current fiscal year.
A number of equities research analysts have recently weighed in on FCX shares. ValuEngine upgraded Freeport-McMoran from a “hold” rating to a “buy” rating in a research report on Thursday, August 31st. Zacks Investment Research upgraded Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Tuesday, October 10th. Royal Bank Of Canada set a $14.00 price objective on Freeport-McMoran and gave the stock a “hold” rating in a research report on Wednesday, October 11th. FBR & Co restated a “neutral” rating and issued a $12.00 target price (down previously from $13.00) on shares of Freeport-McMoran in a research note on Thursday, September 14th. Finally, Jefferies Group restated a “buy” rating and issued a $19.00 target price (down previously from $23.00) on shares of Freeport-McMoran in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.54.
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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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