Acrospire Investment Management LLC bought a new stake in Freeport-McMoRan Inc (NYSE:FCX) during the first quarter, Holdings Channel reports. The firm bought 9,152 shares of the natural resource company’s stock, valued at approximately $122,000.

Several other large investors have also recently bought and sold shares of FCX. Strid Group LLC bought a new position in shares of Freeport-McMoRan during the third quarter valued at about $112,000. Advantage Investment Management LLC bought a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $117,000. Johnson Investment Counsel Inc. increased its position in shares of Freeport-McMoRan by 6.4% in the third quarter. Johnson Investment Counsel Inc. now owns 10,882 shares of the natural resource company’s stock valued at $118,000 after buying an additional 657 shares during the period. Ancora Advisors LLC bought a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $126,000. Finally, CSS LLC IL bought a new position in shares of Freeport-McMoRan during the third quarter valued at about $127,000. 66.80% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Freeport-McMoRan Inc (NYSE:FCX) traded up 4.4278% during mid-day trading on Friday, hitting $11.7899. 22,923,003 shares of the company were exchanged. Freeport-McMoRan Inc has a 12-month low of $9.24 and a 12-month high of $17.06. The firm has a 50 day moving average of $12.53 and a 200 day moving average of $13.80. The company has a market capitalization of $17.06 billion, a price-to-earnings ratio of 63.0476 and a beta of 2.49.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, April 25th. The natural resource company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The company had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.51 billion. Freeport-McMoRan had a positive return on equity of 3.52% and a negative net margin of 28.09%. Freeport-McMoRan’s revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.16) earnings per share. Equities research analysts forecast that Freeport-McMoRan Inc will post $1.07 earnings per share for the current year.

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Several brokerages recently issued reports on FCX. Vetr downgraded shares of Freeport-McMoRan from a “strong-buy” rating to a “buy” rating and set a $14.50 price target on the stock. in a research report on Tuesday, April 25th. Berenberg Bank upgraded shares of Freeport-McMoRan from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a research report on Wednesday, March 22nd. FBR & Co reiterated a “hold” rating and set a $13.00 price target on shares of Freeport-McMoRan in a research report on Wednesday, April 5th. Cowen and Company reiterated a “buy” rating on shares of Freeport-McMoRan in a research report on Tuesday, April 11th. Finally, JPMorgan Chase & Co. began coverage on shares of Freeport-McMoRan in a research report on Thursday, February 9th. They set a “neutral” rating and a $14.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $13.65.

About Freeport-McMoRan

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.

5 Day Chart for NYSE:FCX

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