Freeport-McMoran, Inc. (FCX) Shares Sold by Chicago Equity Partners LLC
Chicago Equity Partners LLC lowered its position in Freeport-McMoran, Inc. (NYSE:FCX) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,115 shares of the natural resource company’s stock after selling 5,085 shares during the period. Chicago Equity Partners LLC’s holdings in Freeport-McMoran were worth $3,189,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. IHT Wealth Management LLC raised its stake in shares of Freeport-McMoran by 27.1% in the second quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock valued at $843,000 after acquiring an additional 375 shares during the last quarter. Sun Life Financial INC raised its stake in shares of Freeport-McMoran by 96,340.0% in the second quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock valued at $116,000 after acquiring an additional 9,634 shares during the last quarter. First Manhattan Co. raised its stake in shares of Freeport-McMoran by 0.3% in the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after acquiring an additional 33 shares during the last quarter. Outfitter Advisors LTD. bought a new position in shares of Freeport-McMoran in the second quarter valued at approximately $121,000. Finally, Fisher Asset Management LLC bought a new position in shares of Freeport-McMoran in the second quarter valued at approximately $122,000. Institutional investors own 68.06% of the company’s stock.
FCX has been the subject of a number of research analyst reports. FBR & Co reiterated a “market perform” rating and issued a $13.00 target price (up previously from $12.00) on shares of Freeport-McMoran in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Tuesday, October 10th. ValuEngine upgraded shares of Freeport-McMoran from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. Berenberg Bank set a $10.00 price objective on shares of Freeport-McMoran and gave the stock a “sell” rating in a research report on Friday, July 28th. Finally, BidaskClub upgraded shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Two investment 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. The company currently has an average rating of “Hold” and an average price target of $15.54.
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In other news, COO Harry M. Iv Conger purchased 36,180 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was bought at an average price of $15.23 per share, with a total value of $551,021.40. Following the acquisition, the chief operating officer now directly owns 73,943 shares of the company’s stock, valued at $1,126,151.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.29% of the stock is owned by insiders.
Freeport-McMoran, Inc. (NYSE:FCX) opened at $14.41 on Friday. Freeport-McMoran, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $17.06. The stock has a market cap of $21,308.53, a price-to-earnings ratio of 16.18 and a beta of 2.57. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. Freeport-McMoran had a net margin of 6.20% and a return on equity of 13.35%. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the business earned $0.13 EPS. The firm’s revenue was up 11.2% on a year-over-year basis. sell-side analysts expect that Freeport-McMoran, Inc. will post 1.07 earnings per share for the current fiscal year.
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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