Quantbot Technologies LP Has $3.93 Million Position in Freeport-McMoran, Inc. (FCX)
Quantbot Technologies LP increased its position in Freeport-McMoran, Inc. (NYSE:FCX) by 191.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 326,846 shares of the natural resource company’s stock after buying an additional 214,517 shares during the quarter. Quantbot Technologies LP’s holdings in Freeport-McMoran were worth $3,925,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hosking Partners LLP increased its stake in shares of Freeport-McMoran by 68.7% in the second quarter. Hosking Partners LLP now owns 809,467 shares of the natural resource company’s stock worth $9,722,000 after buying an additional 329,770 shares during the period. AXA purchased a new position in shares of Freeport-McMoran in the second quarter worth $15,414,000. Vanguard Group Inc. increased its stake in shares of 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 worth $1,776,769,000 after buying an additional 12,897,514 shares during the period. Hodges Capital Management Inc. increased its stake in shares of Freeport-McMoran by 56.8% in the first quarter. Hodges Capital Management Inc. now owns 1,248,890 shares of the natural resource company’s stock worth $16,685,000 after buying an additional 452,565 shares during the period. Finally, Global X Management Co. LLC increased its stake in shares of Freeport-McMoran by 9.3% in the first quarter. Global X Management Co. LLC now owns 185,238 shares of the natural resource company’s stock worth $2,475,000 after buying an additional 15,808 shares during the period. 67.94% of the stock is currently owned by institutional investors.
Several brokerages recently commented on FCX. Jefferies Group LLC set a $18.00 target price on shares of Freeport-McMoran and gave the stock a “buy” rating in a research note on Monday, August 28th. Vertical Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of Freeport-McMoran in a research note on Tuesday, August 29th. BidaskClub raised shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Stifel Nicolaus set a $15.00 target price on shares of Freeport-McMoran and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Finally, Berenberg Bank reaffirmed a “sell” rating and issued a $10.40 target price on shares of Freeport-McMoran in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Freeport-McMoran presently has an average rating of “Hold” and an average price target of $15.51.
Shares of Freeport-McMoran, Inc. (NYSE:FCX) traded up 2.1145% during mid-day trading on Friday, hitting $14.2756. 4,605,054 shares of the stock were exchanged. The stock’s 50 day moving average is $14.57 and its 200 day moving average is $12.98. The firm has a market cap of $20.66 billion, a P/E ratio of 20.1348 and a beta of 2.57. Freeport-McMoran, Inc. has a 12 month low of $9.24 and a 12 month high of $17.06.
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 analysts’ consensus estimates of $0.21 by ($0.04). Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the previous year, the business earned ($0.02) EPS. Freeport-McMoran’s revenue for the quarter was up 11.3% compared to the same quarter last year. Analysts expect that Freeport-McMoran, Inc. will post $0.95 EPS for the current fiscal year.
In related news, COO Harry M. Iv Conger acquired 36,180 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average price of $15.23 per share, with a total value of $551,021.40. Following the completion of the transaction, the chief operating officer now directly owns 73,943 shares in the company, valued at $1,126,151.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by company insiders.
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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