Cohen Klingenstein LLC Holds Stake in Freeport-McMoran, Inc. (NYSE:FCX)

Cohen Klingenstein LLC continued to hold its position in shares of Freeport-McMoran, Inc. (NYSE:FCX) during the second quarter, Holdings Channel reports. The firm owned 264,939 shares of the natural resource company’s stock at the end of the second quarter. Cohen Klingenstein LLC’s holdings in Freeport-McMoran were worth $3,182,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Mathes Company Inc. increased its position in shares of Freeport-McMoran by 5.1% in the second quarter. Mathes Company Inc. now owns 30,950 shares of the natural resource company’s stock worth $372,000 after buying an additional 1,500 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Freeport-McMoran by 102.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 281,224 shares of the natural resource company’s stock worth $3,378,000 after buying an additional 142,300 shares in the last quarter. Eqis Capital Management Inc. increased its position in shares of Freeport-McMoran by 5.9% in the second quarter. Eqis Capital Management Inc. now owns 13,144 shares of the natural resource company’s stock worth $158,000 after buying an additional 731 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Freeport-McMoran by 548.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 223,671 shares of the natural resource company’s stock worth $2,686,000 after buying an additional 189,172 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Freeport-McMoran by 0.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,882,809 shares of the natural resource company’s stock worth $22,613,000 after buying an additional 15,837 shares in the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Freeport-McMoran, Inc. (NYSE:FCX) traded up 3.17% during trading on Monday, hitting $13.00. The company had a trading volume of 27,246,134 shares. Freeport-McMoran, Inc. has a one year low of $9.24 and a one year high of $17.06. The stock has a 50-day moving average of $11.71 and a 200-day moving average of $13.34. The stock has a market capitalization of $18.81 billion, a PE ratio of 69.52 and a beta of 2.55.

Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.51 billion. Freeport-McMoran had a net margin of 1.11% and a return on equity of 7.97%. Freeport-McMoran’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.16) EPS. On average, equities analysts anticipate that Freeport-McMoran, Inc. will post $0.99 EPS for the current year.

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A number of research analysts have recently weighed in on FCX shares. FBR & Co reiterated a “market perform” rating and set a $13.00 price target on shares of Freeport-McMoran in a report on Tuesday, March 28th. BMO Capital Markets reiterated a “hold” rating and set a $15.00 price target on shares of Freeport-McMoran in a report on Thursday, June 29th. Deutsche Bank AG upgraded Freeport-McMoran from a “sell” rating to a “hold” rating and lifted their price target for the company from $12.50 to $14.00 in a report on Tuesday, March 21st. Clarkson Capital reiterated a “neutral” rating on shares of Freeport-McMoran in a report on Monday, July 10th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $17.00 price target on shares of Freeport-McMoran in a report on Wednesday, April 19th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.77.

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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