One Wealth Advisors LLC lowered its holdings in shares of Freeport-McMoRan Inc (NYSE:FCX) by 23.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,819 shares of the natural resource company’s stock after selling 4,912 shares during the quarter. One Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $163,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of Freeport-McMoRan by 3.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 300,663 shares of the natural resource company’s stock valued at $4,179,000 after purchasing an additional 10,012 shares during the last quarter. Private Advisor Group LLC increased its holdings in Freeport-McMoRan by 28.7% during the 3rd quarter. Private Advisor Group LLC now owns 36,761 shares of the natural resource company’s stock worth $512,000 after purchasing an additional 8,190 shares during the period. Janus Henderson Group PLC increased its holdings in Freeport-McMoRan by 49.3% during the 3rd quarter. Janus Henderson Group PLC now owns 5,064,720 shares of the natural resource company’s stock worth $70,496,000 after purchasing an additional 1,672,520 shares during the period. PNC Financial Services Group Inc. increased its holdings in Freeport-McMoRan by 61.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 229,828 shares of the natural resource company’s stock worth $3,199,000 after purchasing an additional 87,681 shares during the period. Finally, BlackRock Inc. increased its holdings in Freeport-McMoRan by 8.9% during the 3rd quarter. BlackRock Inc. now owns 102,252,475 shares of the natural resource company’s stock worth $1,423,352,000 after purchasing an additional 8,364,557 shares during the period. Hedge funds and other institutional investors own 70.77% of the company’s stock.
NYSE:FCX traded up $0.06 during trading hours on Monday, hitting $12.25. 2,021,205 shares of the stock were exchanged, compared to its average volume of 16,279,680. Freeport-McMoRan Inc has a 52-week low of $9.60 and a 52-week high of $19.70. The company has a current ratio of 3.22, a quick ratio of 1.79 and a debt-to-equity ratio of 0.62. The firm has a market cap of $17.65 billion, a P/E ratio of 8.06 and a beta of 2.27.
Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 24th. The natural resource company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.07). Freeport-McMoRan had a return on equity of 15.77% and a net margin of 12.12%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter last year, the firm posted $0.51 earnings per share. Freeport-McMoRan’s quarterly revenue was down 26.9% on a year-over-year basis. On average, research analysts forecast that Freeport-McMoRan Inc will post 0.47 earnings per share for the current year.
Several research analysts have commented on FCX shares. Citigroup upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a report on Tuesday, February 19th. ValuEngine raised Freeport-McMoRan from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Raymond James reissued a “market perform” rating and issued a $16.00 price objective on shares of Freeport-McMoRan in a report on Monday, December 24th. Morgan Stanley cut Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 13th. Finally, Zacks Investment Research upgraded Freeport-McMoRan from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 14th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Freeport-McMoRan currently has a consensus rating of “Hold” and an average target price of $15.70.
In other news, VP C Donald Whitmire, Jr. sold 7,425 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $11.58, for a total value of $85,981.50. Following the completion of the sale, the vice president now directly owns 67,974 shares in the company, valued at $787,138.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is owned by corporate insiders.
Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.
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