Gamco Investors INC. ET AL Sells 27,900 Shares of Freeport-McMoran, Inc. (FCX)

Gamco Investors INC. ET AL reduced its stake in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,772,850 shares of the natural resource company’s stock after selling 27,900 shares during the period. Gamco Investors INC. ET AL owned about 0.33% of Freeport-McMoran worth $57,322,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FCX. First Manhattan Co. boosted its position in shares of Freeport-McMoran by 0.3% in the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after buying an additional 33 shares during the period. M Holdings Securities Inc. boosted its position in shares of Freeport-McMoran by 1.1% in the first quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock valued at $192,000 after buying an additional 150 shares during the period. Conning Inc. boosted its position in shares of Freeport-McMoran by 0.8% in the first quarter. Conning Inc. now owns 30,081 shares of the natural resource company’s stock valued at $402,000 after buying an additional 239 shares during the period. Sii Investments Inc. WI boosted its position in shares of Freeport-McMoran by 2.3% in the first quarter. Sii Investments Inc. WI now owns 13,643 shares of the natural resource company’s stock valued at $182,000 after buying an additional 305 shares during the period. Finally, Sprott Inc. boosted its position in shares of Freeport-McMoran by 2.6% in the first quarter. Sprott Inc. now owns 14,777 shares of the natural resource company’s stock valued at $197,000 after buying an additional 375 shares during the period. Institutional investors own 69.94% of the company’s stock.

Shares of Freeport-McMoran, Inc. (NYSE FCX) opened at 14.20 on Friday. The stock has a 50 day moving average price of $13.52 and a 200-day moving average price of $13.05. The company has a market cap of $20.55 billion, a price-to-earnings ratio of 20.03 and a beta of 2.59. Freeport-McMoran, Inc. has a 1-year low of $9.24 and a 1-year high of $17.06. Freeport-McMoran also was the recipient of some unusual options trading on Wednesday. Stock investors acquired 48,064 call options on the company. This represents an increase of approximately 145% compared to the average daily volume of 19,644 call options.

Freeport-McMoran (NYSE:FCX) last issued its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.04. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.02) EPS. Equities research analysts forecast that Freeport-McMoran, Inc. will post $0.88 earnings per share for the current year.

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FCX has been the subject of several research analyst reports. Clarkson Capital reissued a “neutral” rating on shares of Freeport-McMoran in a research note on Monday, July 10th. ValuEngine lowered Freeport-McMoran from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. BidaskClub raised Freeport-McMoran from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. BMO Capital Markets set a $17.00 price objective on Freeport-McMoran and gave the company a “hold” rating in a research note on Wednesday, July 26th. Finally, Berenberg Bank lowered Freeport-McMoran from a “hold” rating to a “sell” rating and set a $10.00 price objective for the company. in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, three have given 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 $14.32.

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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