State of Wisconsin Investment Board cut its position in Freeport-McMoRan Inc (NYSE:FCX) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,688,824 shares of the natural resource company’s stock after selling 10,374 shares during the quarter. State of Wisconsin Investment Board’s holdings in Freeport-McMoRan were worth $32,020,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thompson Davis & CO. Inc. grew its stake in Freeport-McMoRan by 756.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 9,348 shares of the natural resource company’s stock worth $177,000 after purchasing an additional 8,257 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Freeport-McMoRan during the 3rd quarter worth $140,000. Ballew Advisors Inc acquired a new position in Freeport-McMoRan during the 4th quarter worth $190,000. Sowell Financial Services LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth $196,000. Finally, Rothschild Investment Corp IL acquired a new position in Freeport-McMoRan during the 3rd quarter worth $147,000. 68.40% of the stock is owned by institutional investors and hedge funds.
In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total value of $419,035.00. Following the completion of the sale, the vice president now directly owns 70,239 shares of the company’s stock, valued at approximately $1,368,958.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.29% of the stock is currently owned by insiders.
Freeport-McMoRan Inc (FCX) opened at $18.73 on Monday. The stock has a market capitalization of $27,113.36, a PE ratio of 16.01 and a beta of 2.50. Freeport-McMoRan Inc has a 1 year low of $11.05 and a 1 year high of $20.25. The company has a current ratio of 2.14, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04.
Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 25th. The natural resource company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the business earned $0.25 EPS. The business’s quarterly revenue was up 15.2% on a year-over-year basis. equities research analysts predict that Freeport-McMoRan Inc will post 2.31 earnings per share for the current year.
Several research analysts recently commented on the company. CIBC cut Freeport-McMoRan from a “sector outperform” rating to a “neutral” rating in a research note on Monday, January 22nd. Scotiabank reissued a “hold” rating and set a $19.00 target price on shares of Freeport-McMoRan in a research note on Monday, January 8th. B. Riley reissued a “neutral” rating and set a $18.00 target price (up from $16.00) on shares of Freeport-McMoRan in a research note on Thursday, January 18th. TheStreet raised Freeport-McMoRan from a “c” rating to a “b-” rating in a research note on Thursday, January 25th. Finally, Bank of America reissued an “underperform” rating and set a $16.00 target price (up from $15.00) on shares of Freeport-McMoRan in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Freeport-McMoRan presently has an average rating of “Hold” and a consensus target price of $16.24.
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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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