Stone Ridge Asset Management LLC purchased a new position in Freeport-McMoRan Inc (NYSE:FCX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 87,254 shares of the natural resource company’s stock, valued at approximately $1,654,000.
Several other institutional investors also recently bought and sold shares of FCX. Nationwide Fund Advisors grew its stake in shares of Freeport-McMoRan by 36.3% in the 3rd quarter. Nationwide Fund Advisors now owns 510,010 shares of the natural resource company’s stock worth $7,161,000 after buying an additional 135,759 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Freeport-McMoRan by 5.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 187,367 shares of the natural resource company’s stock worth $2,631,000 after buying an additional 9,652 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Freeport-McMoRan in the 3rd quarter worth approximately $498,000. Alps Advisors Inc. purchased a new stake in shares of Freeport-McMoRan in the 3rd quarter worth approximately $310,000. Finally, FDx Advisors Inc. grew its stake in shares of Freeport-McMoRan by 14.2% in the 3rd quarter. FDx Advisors Inc. now owns 30,414 shares of the natural resource company’s stock worth $427,000 after buying an additional 3,790 shares during the last quarter. Institutional investors own 69.84% of the company’s stock.
Several research firms recently weighed in on FCX. CIBC downgraded Freeport-McMoRan from a “sector outperform” rating to a “neutral” rating in a research note on Monday, January 22nd. Scotiabank restated a “hold” rating and issued a $19.00 price target on shares of Freeport-McMoRan in a research note on Monday, January 8th. B. Riley restated a “neutral” rating and issued a $18.00 price target (up previously from $16.00) on shares of Freeport-McMoRan in a research note on Thursday, January 18th. TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a research note on Thursday, January 25th. Finally, Bank of America restated an “underperform” rating and issued a $16.00 price target (up previously from $15.00) on shares of Freeport-McMoRan in a research note on Friday, January 26th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $16.75.
Freeport-McMoRan Inc (NYSE FCX) opened at $18.66 on Thursday. The stock has a market capitalization of $27,060.00, a P/E ratio of 20.06 and a beta of 2.41. Freeport-McMoRan Inc has a 12-month low of $11.05 and a 12-month high of $20.25. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.14 and a quick ratio of 1.37.
Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.02. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. equities analysts anticipate that Freeport-McMoRan Inc will post 2.31 earnings per share for the current fiscal year.
In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of the 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. 1.29% of the stock is owned by corporate insiders.
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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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