Belpointe Asset Management LLC purchased a new position in shares of Freeport-McMoran, Inc. (NYSE:FCX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,683 shares of the natural resource company’s stock, valued at approximately $150,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sun Life Financial INC lifted its stake in shares of Freeport-McMoran by 96,340.0% in the 2nd quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock valued at $116,000 after purchasing an additional 9,634 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Freeport-McMoran by 2,015.5% in the 2nd quarter. Schroder Investment Management Group now owns 11,487 shares of the natural resource company’s stock valued at $139,000 after purchasing an additional 10,944 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Freeport-McMoran in the 3rd quarter valued at $140,000. Argent Trust Co lifted its stake in shares of Freeport-McMoran by 4.4% in the 2nd quarter. Argent Trust Co now owns 11,818 shares of the natural resource company’s stock valued at $142,000 after purchasing an additional 500 shares during the last quarter. Finally, Abbot Financial Management Inc. acquired a new position in shares of Freeport-McMoran in the 2nd quarter valued at $142,000. Hedge funds and other institutional investors own 68.07% of the company’s stock.

Shares of Freeport-McMoran, Inc. (NYSE:FCX) opened at $17.30 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32. The stock has a market capitalization of $24,587.32, a PE ratio of 18.67 and a beta of 2.56. Freeport-McMoran, Inc. has a 12-month low of $11.05 and a 12-month high of $17.46.

Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. Freeport-McMoran’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. equities research analysts expect that Freeport-McMoran, Inc. will post 1.08 earnings per share for the current fiscal year.

Several brokerages have recently commented on FCX. B. Riley reaffirmed a “neutral” rating on shares of Freeport-McMoran in a research note on Wednesday, November 1st. BidaskClub raised Freeport-McMoran from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. Royal Bank of Canada set a $14.00 price target on Freeport-McMoran and gave the company a “hold” rating in a research note on Wednesday, October 11th. Morgan Stanley raised Freeport-McMoran from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $10.00 to $14.00 in a research note on Monday, December 11th. Finally, FBR & Co reissued a “neutral” rating and set a $12.00 target price (down previously from $13.00) on shares of Freeport-McMoran in a research note on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $15.64.

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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.

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

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