Freeport-McMoRan Inc (NYSE:FCX) Shares Bought by Mathes Company Inc.

Mathes Company Inc. increased its position in shares of Freeport-McMoRan Inc (NYSE:FCX) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,950 shares of the natural resource company’s stock after buying an additional 1,500 shares during the period. Mathes Company Inc.’s holdings in Freeport-McMoRan were worth $372,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in 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 during the last quarter. Eqis Capital Management Inc. boosted its stake in 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 during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in 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 during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in 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 during the last quarter. Finally, National Pension Service boosted its stake in Freeport-McMoRan by 9.9% in the second quarter. National Pension Service now owns 1,226,341 shares of the natural resource company’s stock worth $14,814,000 after buying an additional 110,503 shares during the last quarter. 69.45% of the stock is currently owned by institutional investors.

Shares of Freeport-McMoRan Inc (FCX) opened at 13.96 on Friday. Freeport-McMoRan Inc has a 52-week low of $9.24 and a 52-week high of $17.06. The stock has a market cap of $20.20 billion, a price-to-earnings ratio of 19.69 and a beta of 2.59. The firm has a 50-day moving average price of $13.24 and a 200 day moving average price of $13.11.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.67 billion. Freeport-McMoRan had a return on equity of 15.87% and a net margin of 8.81%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the business earned ($0.02) EPS. Analysts expect that Freeport-McMoRan Inc will post $0.87 earnings per share for the current year.

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Several research firms have recently issued reports on FCX. BMO Capital Markets set a $17.00 price objective on shares of Freeport-McMoRan and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Cowen and Company lifted their price objective on shares of Freeport-McMoRan from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, July 27th. FBR & Co reissued a “market perform” rating and set a $13.00 target price (up from $12.00) on shares of Freeport-McMoRan in a research note on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Freeport-McMoRan from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $14.27.

About Freeport-McMoRan

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.

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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