Freeport-McMoran, Inc. (FCX) Shares Gap Up to $0.00

Freeport-McMoran, Inc. (NYSE:FCX) shares gapped up prior to trading on Wednesday . The stock had previously closed at ($14.40), but opened at $0.00. Freeport-McMoran shares last traded at $0.00, with a volume of 18464470 shares.

A number of research analysts have recently commented on FCX shares. FBR & Co reissued a “market perform” rating and issued a $13.00 target price (up previously from $12.00) on shares of Freeport-McMoran in a report on Thursday, July 27th. Zacks Investment Research raised shares of Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, October 10th. ValuEngine raised shares of Freeport-McMoran from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Berenberg Bank set a $10.00 target price on shares of Freeport-McMoran and gave the stock a “sell” rating in a report on Friday, July 28th. Finally, BidaskClub raised shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $15.54.

Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. The business’s revenue was up 11.2% on a year-over-year basis.

In other Freeport-McMoran news, COO Harry M. Iv Conger bought 36,180 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average price of $15.23 per share, for a total transaction of $551,021.40. Following the completion of the acquisition, the chief operating officer now directly owns 73,943 shares in the company, valued at $1,126,151.89. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.29% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in FCX. Thrivent Financial For Lutherans raised its holdings in shares of Freeport-McMoran by 9.9% during the first quarter. Thrivent Financial For Lutherans now owns 48,672 shares of the natural resource company’s stock valued at $650,000 after acquiring an additional 4,380 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Freeport-McMoran by 11.9% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 60,919 shares of the natural resource company’s stock valued at $814,000 after acquiring an additional 6,498 shares in the last quarter. M Holdings Securities Inc. raised its holdings in shares of Freeport-McMoran by 1.1% during the first quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock valued at $192,000 after acquiring an additional 150 shares in the last quarter. Grassi Investment Management raised its holdings in shares of Freeport-McMoran by 24.9% during the second quarter. Grassi Investment Management now owns 46,700 shares of the natural resource company’s stock valued at $561,000 after acquiring an additional 9,300 shares in the last quarter. Finally, Park National Corp OH raised its holdings in shares of Freeport-McMoran by 13.0% during the second quarter. Park National Corp OH now owns 125,894 shares of the natural resource company’s stock valued at $1,512,000 after acquiring an additional 14,504 shares in the last quarter. Institutional investors own 67.95% of the company’s stock.

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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.

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