Freeport-McMoran, Inc. (FCX) Shares Sold by Commonwealth Equity Services Inc
Commonwealth Equity Services Inc trimmed its holdings in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 294,385 shares of the natural resource company’s stock after selling 10,777 shares during the quarter. Commonwealth Equity Services Inc’s holdings in Freeport-McMoran were worth $4,133,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. ACG Wealth lifted its position in shares of Freeport-McMoran by 8.5% during the third quarter. ACG Wealth now owns 169,927 shares of the natural resource company’s stock worth $2,386,000 after purchasing an additional 13,308 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Freeport-McMoran by 30.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 127,521 shares of the natural resource company’s stock worth $1,790,000 after purchasing an additional 29,854 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Freeport-McMoran by 40.4% during the third quarter. Russell Investments Group Ltd. now owns 223,026 shares of the natural resource company’s stock worth $3,129,000 after purchasing an additional 64,161 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in shares of Freeport-McMoran by 21.0% during the third quarter. HighPoint Advisor Group LLC now owns 22,883 shares of the natural resource company’s stock worth $326,000 after purchasing an additional 3,975 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of Freeport-McMoran by 1.3% in the third quarter. Comerica Bank now owns 427,310 shares of the natural resource company’s stock valued at $5,957,000 after acquiring an additional 5,430 shares in the last quarter. Institutional investors and hedge funds own 69.68% of the company’s stock.
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In related news, COO Harry M. Iv Conger bought 36,180 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was bought at an average cost of $15.23 per share, for a total transaction of $551,021.40. Following the acquisition, the chief operating officer now directly owns 73,943 shares in the company, valued at $1,126,151.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.29% of the stock is owned by corporate insiders.
FCX has been the subject of several recent research reports. Jefferies Group LLC set a $18.00 price objective on Freeport-McMoran and gave the company a “buy” rating in a report on Monday, August 28th. Berenberg Bank reiterated a “sell” rating and issued a $10.40 target price on shares of Freeport-McMoran in a research note on Tuesday, September 5th. ValuEngine upgraded Freeport-McMoran from a “hold” rating to a “buy” rating in a research note on Thursday, August 31st. Deutsche Bank AG lowered Freeport-McMoran from a “hold” rating to a “sell” rating and set a $13.00 target price on the stock. in a research note on Tuesday, October 17th. Finally, FBR & Co reiterated a “hold” rating and issued a $12.00 target price on shares of Freeport-McMoran in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Freeport-McMoran currently has a consensus rating of “Hold” and a consensus price target of $15.54.
Shares of Freeport-McMoran, Inc. (NYSE:FCX) traded down $0.04 during trading hours on Monday, reaching $13.83. The company’s stock had a trading volume of 516,743 shares, compared to its average volume of 21,435,717. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 1.23. The stock has a market cap of $20,060.00, a PE ratio of 15.23 and a beta of 2.55. Freeport-McMoran, Inc. has a 12 month low of $11.05 and a 12 month high of $17.06.
Freeport-McMoran (NYSE:FCX) last issued its earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 EPS. analysts predict that Freeport-McMoran, Inc. will post 1.07 EPS for the current 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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