Rhumbline Advisers cut its stake in shares of Freeport-McMoRan Inc (NYSE:FCX) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,365,958 shares of the natural resource company’s stock after selling 4,263 shares during the quarter. Rhumbline Advisers’ holdings in Freeport-McMoRan were worth $44,859,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of FCX. Bank of New York Mellon Corp grew its holdings in shares of Freeport-McMoRan by 18.1% during the third quarter. Bank of New York Mellon Corp now owns 24,292,902 shares of the natural resource company’s stock valued at $341,073,000 after purchasing an additional 3,724,271 shares during the last quarter. Oakmont Corp bought a new position in shares of Freeport-McMoRan during the third quarter valued at approximately $41,553,000. Contrarius Investment Management Ltd grew its holdings in shares of Freeport-McMoRan by 74.3% during the third quarter. Contrarius Investment Management Ltd now owns 6,176,460 shares of the natural resource company’s stock valued at $86,717,000 after purchasing an additional 2,633,409 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Freeport-McMoRan by 141.7% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,152,745 shares of the natural resource company’s stock valued at $78,736,000 after purchasing an additional 2,434,376 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Freeport-McMoRan by 522.6% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 2,554,280 shares of the natural resource company’s stock valued at $35,861,000 after purchasing an additional 2,144,008 shares during the last quarter. 68.40% of the stock is owned by institutional investors.
Freeport-McMoRan Inc (FCX) opened at $18.73 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 2.14. The stock has a market capitalization of $27,113.36, a price-to-earnings ratio of 16.01 and a beta of 2.50. Freeport-McMoRan Inc has a one year low of $11.05 and a one year high of $20.25.
FCX has been the subject of several recent research reports. Clarkson Capital raised Freeport-McMoRan from a “neutral” rating to a “buy” rating in a report on Wednesday, January 17th. Zacks Investment Research raised 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, November 14th. FBR & Co reissued a “hold” rating and issued a $12.00 price objective on shares of Freeport-McMoRan in a report on Thursday, October 26th. ValuEngine raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Finally, B. Riley increased their price objective on Freeport-McMoRan from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 11th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Freeport-McMoRan has a consensus rating of “Hold” and a consensus price target of $16.24.
In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the completion of the transaction, the vice president now directly owns 70,239 shares of the company’s stock, valued at approximately $1,368,958.11. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.29% of the company’s stock.
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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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