Freeport-McMoRan Inc (FCX) Position Raised by BLB&B Advisors LLC
BLB&B Advisors LLC increased its holdings in shares of Freeport-McMoRan Inc (NYSE:FCX) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,078 shares of the natural resource company’s stock after purchasing an additional 4,450 shares during the quarter. BLB&B Advisors LLC’s holdings in Freeport-McMoRan were worth $1,803,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of FCX. Sun Life Financial INC lifted its stake in Freeport-McMoRan by 96,340.0% during the second quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock worth $116,000 after purchasing an additional 9,634 shares during the last quarter. Schroder Investment Management Group lifted its stake in Freeport-McMoRan by 2,015.5% during the second quarter. Schroder Investment Management Group now owns 11,487 shares of the natural resource company’s stock worth $139,000 after purchasing an additional 10,944 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Freeport-McMoRan during the third quarter worth approximately $140,000. Abbot Financial Management Inc. purchased a new stake in Freeport-McMoRan during the second quarter worth approximately $142,000. Finally, Rothschild Investment Corp IL purchased a new stake in Freeport-McMoRan during the third quarter worth approximately $147,000. Hedge funds and other institutional investors own 68.06% of the company’s stock.
Several equities research analysts recently weighed in on the company. B. Riley restated a “neutral” rating on shares of Freeport-McMoRan in a research note on Wednesday, November 1st. Deutsche Bank cut Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 target price for the company. in a research note on Tuesday, October 17th. Zacks Investment Research cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, FBR & Co restated a “hold” rating and set 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, sixteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.80.
Shares of Freeport-McMoRan Inc (NYSE:FCX) traded down $0.25 during midday trading on Tuesday, reaching $19.50. The company’s stock had a trading volume of 9,640,000 shares, compared to its average volume of 20,140,000. 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 Inc has a one year low of $11.05 and a one year high of $20.07. The stock has a market capitalization of $28,220.00, a PE ratio of 27.08 and a beta of 2.51.
Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, beating the Zacks’ 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 revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.13 earnings per share. equities analysts predict that Freeport-McMoRan Inc will post 1.09 EPS for the current year.
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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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