Campbell & CO Investment Adviser LLC Buys Shares of 17,899 Freeport-McMoran, Inc. (FCX)
Campbell & CO Investment Adviser LLC bought a new position in Freeport-McMoran, Inc. (NYSE:FCX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,899 shares of the natural resource company’s stock, valued at approximately $251,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. IHT Wealth Management LLC raised its position in shares of Freeport-McMoran by 27.1% in the 2nd quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock worth $843,000 after buying an additional 375 shares during the period. Sun Life Financial INC raised its position 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 worth $116,000 after buying an additional 9,634 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Freeport-McMoran in the 3rd quarter worth $140,000. First Manhattan Co. raised its position in shares of Freeport-McMoran by 0.3% in the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after buying an additional 33 shares during the period. Finally, Outfitter Advisors LTD. purchased a new position in shares of Freeport-McMoran in the 2nd quarter worth $121,000. 68.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Freeport-McMoran, Inc. (NYSE FCX) opened at $14.11 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.32 and a current ratio of 2.02. The firm has a market capitalization of $20,150.45, a PE ratio of 15.30 and a beta of 2.56. Freeport-McMoran, Inc. has a 52 week low of $11.05 and a 52 week high of $17.06.
Freeport-McMoran (NYSE:FCX) last announced its earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm earned $0.13 earnings per share. sell-side analysts predict that Freeport-McMoran, Inc. will post 1.07 EPS for the current fiscal year.
Several brokerages recently weighed in on FCX. Vertical Research reaffirmed a “buy” rating and issued a $20.00 target price on shares of Freeport-McMoran in a research report on Tuesday, August 29th. Jefferies Group set a $18.00 price objective on Freeport-McMoran and gave the company a “buy” rating in a research report on Monday, August 28th. BidaskClub raised Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Deutsche Bank lowered 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. Finally, Stifel Nicolaus set a $15.00 price objective on Freeport-McMoran and gave the company a “hold” rating in a research report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $15.54.
In other Freeport-McMoran news, COO Harry M. Iv Conger bought 36,180 shares of the stock in a transaction dated Thursday, September 7th. The stock was bought at an average cost of $15.23 per share, for a total transaction of $551,021.40. Following the completion of the purchase, the chief operating officer now directly owns 73,943 shares of the company’s stock, valued at $1,126,151.89. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.29% of the stock is owned by company insiders.
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Freeport-McMoran Company Profile
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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