Traders sold shares of Freeport-McMoran, Inc. (NYSE:FCX) on strength during trading hours on Tuesday following a weaker than expected earnings announcement. $178.40 million flowed into the stock on the tick-up and $235.88 million flowed out of the stock on the tick-down, for a money net flow of $57.48 million out of the stock. Of all equities tracked, Freeport-McMoran had the 18th highest net out-flow for the day. Freeport-McMoran traded up $1.91 for the day and closed at $14.87The natural resource company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.03. Freeport-McMoran had a net margin of 1.11% and a return on equity of 7.97%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the business earned ($0.02) EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis.

A number of analysts have weighed in on the stock. Berenberg Bank set a $10.00 target price on shares of Freeport-McMoran and gave the company a “sell” rating in a research report on Saturday. Jefferies Group LLC set a $15.00 price target on shares of Freeport-McMoran and gave the stock a “buy” rating in a report on Monday, July 10th. BidaskClub upgraded shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a report on Monday. ValuEngine lowered shares of Freeport-McMoran from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, Clarkson Capital reiterated a “neutral” rating on shares of Freeport-McMoran in a report on Monday, July 10th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Freeport-McMoran has a consensus rating of “Hold” and a consensus target price of $13.77.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Freeport-McMoran by 10.7% in the first quarter. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company’s stock valued at $1,776,769,000 after buying an additional 12,897,514 shares during the period. State Street Corp increased its stake in Freeport-McMoran by 4.6% in the first quarter. State Street Corp now owns 64,979,781 shares of the natural resource company’s stock valued at $868,135,000 after buying an additional 2,835,834 shares during the period. FMR LLC increased its stake in Freeport-McMoran by 104.4% in the first quarter. FMR LLC now owns 42,399,057 shares of the natural resource company’s stock valued at $566,451,000 after buying an additional 21,652,647 shares during the period. Bank of New York Mellon Corp increased its stake in Freeport-McMoran by 46.2% in the first quarter. Bank of New York Mellon Corp now owns 14,757,919 shares of the natural resource company’s stock valued at $197,166,000 after buying an additional 4,662,665 shares during the period. Finally, Geode Capital Management LLC increased its stake in Freeport-McMoran by 14.7% in the first quarter. Geode Capital Management LLC now owns 12,966,422 shares of the natural resource company’s stock valued at $172,986,000 after buying an additional 1,664,093 shares during the period. Institutional investors and hedge funds own 69.48% of the company’s stock.

The firm’s 50 day moving average is $12.13 and its 200-day moving average is $13.15. The company has a market capitalization of $21.51 billion, a PE ratio of 79.52 and a beta of 2.55.

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Freeport-McMoran Company Profile

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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