Freeport-McMoRan Inc (FCX) Shares Sold by Westpac Banking Corp

Westpac Banking Corp reduced its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 3.0% in the 4th quarter, HoldingsChannel reports. The fund owned 581,239 shares of the natural resource company’s stock after selling 17,910 shares during the period. Westpac Banking Corp’s holdings in Freeport-McMoRan were worth $11,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FCX. Schroder Investment Management Group raised its stake in shares of Freeport-McMoRan by 2,015.5% during the 2nd quarter. Schroder Investment Management Group now owns 11,487 shares of the natural resource company’s stock worth $139,000 after purchasing an additional 10,944 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Freeport-McMoRan by 74.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 32,139 shares of the natural resource company’s stock worth $386,000 after purchasing an additional 13,729 shares in the last quarter. BlueMountain Capital Management LLC raised its stake in shares of Freeport-McMoRan by 100.4% during the 2nd quarter. BlueMountain Capital Management LLC now owns 26,461 shares of the natural resource company’s stock worth $318,000 after purchasing an additional 6,651,458 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Freeport-McMoRan by 10.1% during the 2nd quarter. ProShare Advisors LLC now owns 255,541 shares of the natural resource company’s stock worth $3,069,000 after purchasing an additional 23,363 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in shares of Freeport-McMoRan by 4.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 50,732 shares of the natural resource company’s stock worth $609,000 after purchasing an additional 2,060 shares in the last quarter. 68.06% of the stock is owned by institutional investors.

Freeport-McMoRan Inc (NYSE FCX) opened at $19.40 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.32 and a current ratio of 2.02. The company has a market capitalization of $28,080.00, a PE ratio of 26.94 and a beta of 2.51. Freeport-McMoRan Inc has a fifty-two week low of $11.05 and a fifty-two week high of $20.07.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.06 billion. Freeport-McMoRan had a return on equity of 13.35% and a net margin of 6.20%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 EPS. analysts expect that Freeport-McMoRan Inc will post 1.13 earnings per share for the current year.

FCX has been the subject of a number of recent research reports. Zacks Investment Research raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, October 10th. Royal Bank of Canada set a $14.00 price target on Freeport-McMoRan and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Jefferies Group reaffirmed a “buy” rating and set a $19.00 price target (down from $23.00) on shares of Freeport-McMoRan in a research note on Wednesday, October 4th. B. Riley set a $13.00 price target on Freeport-McMoRan and gave the stock a “hold” rating in a research note on Wednesday, December 6th. Finally, FBR & Co set a $12.00 price target on Freeport-McMoRan and gave the stock a “hold” rating in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $15.89.

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Freeport-McMoRan Company Profile

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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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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