Asset Management One Co. Ltd. boosted its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,141,590 shares of the natural resource company’s stock after purchasing an additional 84,654 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.15% of Freeport-McMoRan worth $30,106,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Manhattan Co. raised its holdings in Freeport-McMoRan by 0.3% during the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after buying an additional 33 shares during the period. IHT Wealth Management LLC raised its holdings in Freeport-McMoRan by 27.1% during the 2nd quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock valued at $843,000 after buying an additional 375 shares during the period. Guardian Capital Advisors LP raised its holdings in Freeport-McMoRan by 1.2% during the 2nd quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock valued at $427,000 after buying an additional 400 shares during the period. Argent Trust Co raised its holdings in Freeport-McMoRan by 4.4% during the 2nd quarter. Argent Trust Co now owns 11,818 shares of the natural resource company’s stock valued at $142,000 after buying an additional 500 shares during the period. Finally, Freestone Capital Holdings LLC raised its holdings in Freeport-McMoRan by 1.1% during the 2nd quarter. Freestone Capital Holdings LLC now owns 47,314 shares of the natural resource company’s stock valued at $568,000 after buying an additional 507 shares during the period. Hedge funds and other institutional investors own 68.07% of the company’s stock.
Freeport-McMoRan Inc (NYSE FCX) traded up $19.77 during trading on Tuesday, hitting $19.77. The stock had a trading volume of 21,845,600 shares, compared to its average volume of 17,410,000. The stock has a market capitalization of $28,610.00, a PE ratio of 27.46 and a beta of 2.54. Freeport-McMoRan Inc has a 1-year low of $11.05 and a 1-year high of $19.79. 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 posted its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The business 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 business’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 earnings per share. equities analysts forecast that Freeport-McMoRan Inc will post 1.09 EPS for the current fiscal year.
A number of analysts have weighed in on the company. B. Riley reaffirmed a “neutral” rating on shares of Freeport-McMoRan in a research report on Wednesday, November 1st. Deutsche Bank downgraded Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 price objective on the stock. in a research report on Tuesday, October 17th. ValuEngine raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. FBR & Co reaffirmed a “hold” rating and set a $12.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, October 26th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $17.00 price target on shares of Freeport-McMoRan in a report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Freeport-McMoRan presently has an average rating of “Hold” and an average target price of $15.64.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by TrueBlueTribune and is the property of of TrueBlueTribune. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://www.truebluetribune.com/2018/01/03/freeport-mcmoran-inc-fcx-stake-boosted-by-asset-management-one-co-ltd.html.
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.
Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.