APG Asset Management N.V. Purchases Shares of 164,300 Freeport-McMoRan Inc (FCX)
APG Asset Management N.V. purchased a new stake in shares of Freeport-McMoRan Inc (NYSE:FCX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 164,300 shares of the natural resource company’s stock, valued at approximately $2,594,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of FCX. Harel Insurance Investments & Financial Services Ltd. bought a new position in Freeport-McMoRan during the third quarter valued at about $140,000. Rothschild Investment Corp IL bought a new position in Freeport-McMoRan during the third quarter valued at about $147,000. Belpointe Asset Management LLC bought a new position in Freeport-McMoRan during the third quarter valued at about $150,000. Fox Run Management L.L.C. bought a new position in Freeport-McMoRan during the third quarter valued at about $163,000. Finally, Americafirst Capital Management LLC bought a new position in Freeport-McMoRan during the third quarter valued at about $170,000. Hedge funds and other institutional investors own 68.21% of the company’s stock.
Several brokerages recently issued reports on FCX. B. Riley restated a “neutral” rating on shares of Freeport-McMoRan in a research note on Wednesday, November 1st. TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a research note on Thursday, January 25th. Stifel Nicolaus upped their price objective on Freeport-McMoRan from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday. Bank of America reiterated an “underperform” rating and issued a $16.00 price objective (up from $15.00) on shares of Freeport-McMoRan in a research note on Friday, January 26th. Finally, Royal Bank of Canada set a $14.00 price objective on Freeport-McMoRan and gave the company a “hold” rating in a research note on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Freeport-McMoRan has a consensus rating of “Hold” and a consensus price target of $16.13.
Shares of Freeport-McMoRan Inc (FCX) opened at $17.86 on Thursday. The company has a market capitalization of $25,850.00, a P/E ratio of 14.88 and a beta of 2.48. Freeport-McMoRan Inc has a 12-month low of $11.05 and a 12-month high of $20.25. The company has a current ratio of 2.14, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04.
Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 25th. The natural resource company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.89 billion. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. Freeport-McMoRan’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. analysts anticipate that Freeport-McMoRan Inc will post 2 earnings per share for the current year.
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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