ETRADE Capital Management LLC raised its holdings in Freeport-McMoran, Inc. (NYSE:FCX) by 12.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,622 shares of the natural resource company’s stock after purchasing an additional 4,979 shares during the period. ETRADE Capital Management LLC’s holdings in Freeport-McMoran were worth $612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Strs Ohio lifted its position in shares of Freeport-McMoran by 61.8% in the second quarter. Strs Ohio now owns 85,740 shares of the natural resource company’s stock valued at $1,029,000 after acquiring an additional 32,734 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Freeport-McMoran by 56.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,704 shares of the natural resource company’s stock valued at $129,000 after acquiring an additional 3,865 shares in the last quarter. NGAM Advisors L.P. lifted its position in shares of Freeport-McMoran by 9.2% in the second quarter. NGAM Advisors L.P. now owns 582,314 shares of the natural resource company’s stock valued at $6,994,000 after acquiring an additional 49,290 shares in the last quarter. IBM Retirement Fund lifted its position in shares of Freeport-McMoran by 124.2% in the second quarter. IBM Retirement Fund now owns 33,148 shares of the natural resource company’s stock valued at $445,000 after acquiring an additional 18,361 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Freeport-McMoran by 1.1% in the second quarter. State of New Jersey Common Pension Fund D now owns 4,400,000 shares of the natural resource company’s stock valued at $52,844,000 after acquiring an additional 50,000 shares in the last quarter. 68.12% of the stock is currently owned by institutional investors.

In related news, COO Harry M. Iv Conger acquired 36,180 shares of Freeport-McMoran stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average price of $15.23 per share, for a total transaction of $551,021.40. Following the completion of the transaction, the chief operating officer now owns 73,943 shares in the company, valued at approximately $1,126,151.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.29% of the company’s stock.

FCX has been the topic of several research reports. Jefferies Group set a $18.00 target price on Freeport-McMoran and gave the company a “buy” rating in a research report on Monday, August 28th. Berenberg Bank restated a “sell” rating and issued a $10.40 target price on shares of Freeport-McMoran in a research report on Tuesday, September 5th. ValuEngine upgraded Freeport-McMoran from a “hold” rating to a “buy” rating in a research report on Thursday, August 31st. Zacks Investment Research upgraded Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, November 14th. Finally, FBR & Co restated a “hold” rating and issued a $12.00 target price on shares of Freeport-McMoran in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Freeport-McMoran currently has a consensus rating of “Hold” and a consensus target price of $15.54.

Freeport-McMoran, Inc. (FCX) opened at $14.11 on Friday. Freeport-McMoran, Inc. has a 1 year low of $11.05 and a 1 year high of $17.06. The company has a market capitalization of $20,150.45, a P/E ratio of 15.30 and a beta of 2.56. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.32 and a current ratio of 2.02.

Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the business posted $0.13 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. analysts forecast that Freeport-McMoran, Inc. will post 1.07 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Freeport-McMoran, Inc. (FCX) Shares Bought by ETRADE Capital Management LLC” was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of international copyright & trademark laws. The legal version of this piece of content can be accessed at https://www.dailypolitical.com/2017/12/02/freeport-mcmoran-inc-fcx-shares-bought-by-etrade-capital-management-llc.html.

Freeport-McMoran 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.

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoran, Inc. (NYSE:FCX).

Institutional Ownership by Quarter for Freeport-McMoran (NYSE:FCX)

Receive News & Ratings for Freeport-McMoran Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoran Inc. and related companies with MarketBeat.com's FREE daily email newsletter.