North Star Investment Management Corp. grew its stake in shares of Freeport-McMoRan Inc (NYSE:FCX) by 65.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,853 shares of the natural resource company’s stock after acquiring an additional 58,125 shares during the quarter. North Star Investment Management Corp.’s holdings in Freeport-McMoRan were worth $2,784,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Shell Asset Management Co. grew its holdings in shares of Freeport-McMoRan by 97.9% during the 3rd quarter. Shell Asset Management Co. now owns 160,362 shares of the natural resource company’s stock worth $5,236,000 after purchasing an additional 79,343 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Freeport-McMoRan by 10.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,761,342 shares of the natural resource company’s stock worth $38,769,000 after purchasing an additional 270,171 shares during the period. Caxton Associates LP purchased a new stake in shares of Freeport-McMoRan during the 2nd quarter worth about $7,206,000. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Freeport-McMoRan by 114.3% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,667,157 shares of the natural resource company’s stock worth $23,407,000 after purchasing an additional 889,048 shares during the period. Finally, Stifel Financial Corp grew its holdings in shares of Freeport-McMoRan by 11.5% during the 2nd quarter. Stifel Financial Corp now owns 572,499 shares of the natural resource company’s stock worth $6,845,000 after purchasing an additional 59,154 shares during the period. 68.07% of the stock is owned by institutional investors.
FCX has been the subject of a number of research reports. Zacks Investment Research upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, October 10th. ValuEngine upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. FBR & Co reiterated a “hold” rating and set a $12.00 target price on shares of Freeport-McMoRan in a report on Thursday, October 26th. Jefferies Group reiterated a “buy” rating and set a $19.00 target price (down previously from $23.00) on shares of Freeport-McMoRan in a report on Wednesday, October 4th. Finally, Scotiabank reiterated a “hold” rating and set a $19.00 target price on shares of Freeport-McMoRan in a report on Monday. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Freeport-McMoRan currently has an average rating of “Hold” and an average price target of $15.80.
Freeport-McMoRan Inc (FCX) traded up $0.59 during trading on Thursday, hitting $19.51. The stock had a trading volume of 28,034,701 shares, compared to its average volume of 21,697,801. The stock has a market cap of $28,640.00, a PE ratio of 27.10 and a beta of 2.51. 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 Inc has a 12 month low of $11.05 and a 12 month high of $19.99.
Freeport-McMoRan (NYSE:FCX) last released its earnings results 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. The company 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 business’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. equities analysts forecast that Freeport-McMoRan Inc will post 1.09 EPS for the current year.
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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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