Capital Innovations LLC lifted its holdings in shares of Freeport-McMoRan Inc (NYSE:FCX) by 44.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,900 shares of the natural resource company’s stock after acquiring an additional 8,920 shares during the period. Capital Innovations LLC’s holdings in Freeport-McMoRan were worth $548,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Shell Asset Management Co. grew its position in Freeport-McMoRan by 97.9% in the 3rd quarter. Shell Asset Management Co. now owns 160,362 shares of the natural resource company’s stock valued at $5,236,000 after buying an additional 79,343 shares during the last quarter. Ameriprise Financial Inc. grew its position in Freeport-McMoRan by 10.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,761,342 shares of the natural resource company’s stock valued at $38,769,000 after buying an additional 270,171 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its position in Freeport-McMoRan by 114.3% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,667,157 shares of the natural resource company’s stock valued at $23,407,000 after buying an additional 889,048 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Freeport-McMoRan by 4.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 217,817 shares of the natural resource company’s stock valued at $3,058,000 after buying an additional 9,250 shares during the last quarter. Finally, Oakbrook Investments LLC grew its position in Freeport-McMoRan by 23.9% in the 3rd quarter. Oakbrook Investments LLC now owns 107,600 shares of the natural resource company’s stock valued at $1,511,000 after buying an additional 20,750 shares during the last quarter. Hedge funds and other institutional investors own 68.21% of the company’s stock.
A number of equities research analysts have commented on FCX shares. Deutsche Bank downgraded Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 target price for the company. in a report on Tuesday, October 17th. FBR & Co set a $12.00 target price on Freeport-McMoRan and gave the company a “hold” rating in a report on Friday, October 20th. ValuEngine raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. UBS Group raised their target price on Freeport-McMoRan from $13.50 to $14.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, B. Riley reissued a “neutral” rating on shares of Freeport-McMoRan in a report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.24.
In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of Freeport-McMoRan stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the completion of the transaction, the vice president now owns 70,239 shares of the company’s stock, valued at approximately $1,368,958.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.29% of the company’s stock.
Freeport-McMoRan Inc (NYSE:FCX) opened at $17.57 on Monday. The stock has a market capitalization of $25,430.00, a price-to-earnings ratio of 14.64 and a beta of 2.48. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 2.14. Freeport-McMoRan Inc has a one year low of $11.05 and a one year high of $20.25.
Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 25th. The natural resource company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.89 billion. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The business’s revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.25 EPS. research analysts forecast that Freeport-McMoRan Inc will post 2.2 earnings per share 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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