Raymond James Trust N.A. boosted its position in Freeport-McMoRan Inc (NYSE:FCX) by 16.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,422 shares of the natural resource company’s stock after buying an additional 4,520 shares during the period. Raymond James Trust N.A.’s holdings in Freeport-McMoRan were worth $434,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Strid Group LLC bought a new stake in shares of Freeport-McMoRan during the third quarter valued at $112,000. RiverPoint Capital Management LLC bought a new stake in shares of Freeport-McMoRan during the third quarter valued at $114,000. Advantage Investment Management LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at $117,000. Checchi Capital Advisers LLC raised its position in Freeport-McMoRan by 30.2% in the third quarter. Checchi Capital Advisers LLC now owns 10,897 shares of the natural resource company’s stock worth $118,000 after buying an additional 2,525 shares during the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in Freeport-McMoRan by 6.4% in the third quarter. Johnson Investment Counsel Inc. now owns 10,882 shares of the natural resource company’s stock worth $118,000 after buying an additional 657 shares during the last quarter. Hedge funds and other institutional investors own 66.80% of the company’s stock.
Freeport-McMoRan Inc (NYSE:FCX) traded up 1.74% during midday trading on Monday, reaching $11.71. The company’s stock had a trading volume of 11,063,320 shares. The stock’s 50 day moving average price is $12.65 and its 200-day moving average price is $13.78. Freeport-McMoRan Inc has a one year low of $9.24 and a one year high of $17.06. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 62.62 and a beta of 2.49.
Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.51 billion. Freeport-McMoRan had a negative net margin of 28.09% and a positive return on equity of 3.52%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.16) EPS. On average, analysts forecast that Freeport-McMoRan Inc will post $1.06 EPS for the current fiscal year.
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A number of research analysts have commented on the company. FBR & Co upped their price target on Freeport-McMoRan from $12.00 to $13.00 and gave the company a “mkt perform” rating in a research report on Friday, February 3rd. Vetr raised Freeport-McMoRan from a “buy” rating to a “strong-buy” rating and set a $19.31 target price for the company in a research report on Wednesday, February 1st. Zacks Investment Research lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Monday, January 30th. Barclays PLC reissued an “equal weight” rating and issued a $14.00 target price on shares of Freeport-McMoRan in a research report on Monday, January 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $19.00 price target on shares of Freeport-McMoRan in a research note on Saturday, January 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have issued 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 $13.65.
In related news, VP C Donald Whitmire, Jr. sold 2,525 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $15.22, for a total transaction of $38,430.50. Following the completion of the transaction, the vice president now owns 60,989 shares of the company’s stock, valued at $928,252.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Harry M. Iv Conger sold 77,500 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $15.24, for a total transaction of $1,181,100.00. Following the transaction, the chief operating officer now directly owns 37,763 shares of the company’s stock, valued at approximately $575,508.12. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
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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