Freeport-McMoran, Inc. (FCX) Shares Bought by BW Gestao de Investimentos Ltda.
BW Gestao de Investimentos Ltda. lifted its position in Freeport-McMoran, Inc. (NYSE:FCX) by 33.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000,000 shares of the natural resource company’s stock after buying an additional 250,000 shares during the period. Freeport-McMoran comprises 3.2% of BW Gestao de Investimentos Ltda.’s holdings, making the stock its 4th largest position. BW Gestao de Investimentos Ltda. owned 0.07% of Freeport-McMoran worth $12,010,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hosking Partners LLP increased its holdings in Freeport-McMoran by 68.7% during the 2nd quarter. Hosking Partners LLP now owns 809,467 shares of the natural resource company’s stock worth $9,722,000 after purchasing an additional 329,770 shares in the last quarter. AXA bought a new position in Freeport-McMoran during the 2nd quarter worth about $15,414,000. Caxton Associates LP bought a new position in Freeport-McMoran during the 2nd quarter worth about $7,206,000. Vanguard Group Inc. increased its holdings in Freeport-McMoran by 10.7% during the 1st quarter. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company’s stock worth $1,776,769,000 after purchasing an additional 12,897,514 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Freeport-McMoran by 6.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 166,437 shares of the natural resource company’s stock worth $1,999,000 after purchasing an additional 10,574 shares in the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.
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In other Freeport-McMoran news, COO Harry M. Iv Conger purchased 36,180 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average cost of $15.23 per share, for a total transaction of $551,021.40. Following the purchase, the chief operating officer now owns 73,943 shares of the company’s stock, valued at approximately $1,126,151.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.29% of the company’s stock.
Shares of Freeport-McMoran, Inc. (NYSE:FCX) traded up 1.11% during midday trading on Thursday, reaching $14.59. 8,726,032 shares of the company traded hands. The firm has a market capitalization of $21.12 billion, a PE ratio of 20.58 and a beta of 2.54. The company has a 50-day moving average of $14.51 and a 200 day moving average of $13.16. Freeport-McMoran, Inc. has a 12-month low of $9.24 and a 12-month high of $17.06.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings results on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.04). The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, equities analysts forecast that Freeport-McMoran, Inc. will post $0.99 earnings per share for the current year.
A number of equities analysts have issued reports on FCX shares. Jefferies Group LLC set a $18.00 target price on Freeport-McMoran and gave the stock a “buy” rating in a report on Monday, August 28th. Berenberg Bank reiterated a “sell” rating and set a $10.40 target price on shares of Freeport-McMoran in a report on Tuesday, September 5th. Zacks Investment Research cut Freeport-McMoran from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. ValuEngine upgraded Freeport-McMoran from a “hold” rating to a “buy” rating in a report on Thursday, August 31st. Finally, BMO Capital Markets set a $17.00 target price on Freeport-McMoran and gave the stock a “hold” rating in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $15.36.
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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