Aperio Group LLC Raises Holdings in Freeport-McMoran, Inc. (FCX)

Aperio Group LLC boosted its position in Freeport-McMoran, Inc. (NYSE:FCX) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590,905 shares of the natural resource company’s stock after buying an additional 31,815 shares during the quarter. Aperio Group LLC’s holdings in Freeport-McMoran were worth $8,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Shell Asset Management Co. boosted its stake in Freeport-McMoran by 97.9% in the third quarter. Shell Asset Management Co. now owns 160,362 shares of the natural resource company’s stock worth $5,236,000 after buying an additional 79,343 shares in the last quarter. Hosking Partners LLP boosted its stake in shares of Freeport-McMoran by 68.7% during the second quarter. Hosking Partners LLP now owns 809,467 shares of the natural resource company’s stock valued at $9,722,000 after purchasing an additional 329,770 shares during the period. AXA purchased a new stake in shares of Freeport-McMoran during the second quarter valued at approximately $15,414,000. Caxton Associates LP purchased a new stake in shares of Freeport-McMoran during the second quarter valued at approximately $7,206,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Freeport-McMoran by 6.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 166,437 shares of the natural resource company’s stock valued at $1,999,000 after purchasing an additional 10,574 shares during the period. 67.95% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the company. 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. 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. BidaskClub raised Freeport-McMoran from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, FBR & Co reissued a “market perform” rating and set a $13.00 price objective (up previously from $12.00) on shares of Freeport-McMoran in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $15.54.

In other news, COO Harry M. Iv Conger acquired 36,180 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was acquired 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 owns 73,943 shares in the company, valued at $1,126,151.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.29% of the stock is currently owned by corporate insiders.

Freeport-McMoran, Inc. (FCX) opened at $14.15 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $20.60 billion, a PE ratio of 15.64 and a beta of 2.57.

Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 earnings per share. equities analysts expect that Freeport-McMoran, Inc. will post 1.07 earnings per share for the current fiscal year.

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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.

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

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