DekaBank Deutsche Girozentrale Decreases Position in Freeport-McMoran, Inc. (FCX)
DekaBank Deutsche Girozentrale decreased its position in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,812 shares of the natural resource company’s stock after selling 5,355 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Freeport-McMoran were worth $1,628,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Manhattan Co. lifted its stake in Freeport-McMoran by 0.3% during the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after acquiring an additional 33 shares in the last quarter. IHT Wealth Management LLC lifted its stake in Freeport-McMoran by 27.1% during the 2nd quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock worth $843,000 after acquiring an additional 375 shares in the last quarter. Guardian Capital Advisors LP lifted its stake in Freeport-McMoran by 1.2% during the 2nd quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock worth $427,000 after acquiring an additional 400 shares in the last quarter. Argent Trust Co lifted its stake in Freeport-McMoran by 4.4% during the 2nd quarter. Argent Trust Co now owns 11,818 shares of the natural resource company’s stock worth $142,000 after acquiring an additional 500 shares in the last quarter. Finally, Freestone Capital Holdings LLC raised its position in Freeport-McMoran by 1.1% in the 2nd quarter. Freestone Capital Holdings LLC now owns 47,314 shares of the natural resource company’s stock valued at $568,000 after purchasing an additional 507 shares in the last quarter. 69.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Freeport-McMoran, Inc. (FCX) traded up $0.24 during midday trading on Friday, hitting $14.48. The stock had a trading volume of 2,676,465 shares, compared to its average volume of 21,311,119. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 1.23. Freeport-McMoran, Inc. has a 1-year low of $11.05 and a 1-year high of $17.06. The firm has a market cap of $20,613.68, a price-to-earnings ratio of 15.65 and a beta of 2.57.
Freeport-McMoran (NYSE:FCX) last issued its earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the company earned $0.13 EPS. The business’s quarterly revenue was up 11.2% on a year-over-year basis. sell-side analysts forecast that Freeport-McMoran, Inc. will post 1.07 earnings per share for the current year.
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In other Freeport-McMoran news, COO Harry M. Iv Conger bought 36,180 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were acquired at an average price of $15.23 per share, with a total value of $551,021.40. Following the transaction, the chief operating officer now owns 73,943 shares of the company’s stock, valued at $1,126,151.89. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.29% of the stock is currently owned by company insiders.
FCX has been the topic of a number of analyst reports. Jefferies Group LLC set a $18.00 price target on Freeport-McMoran and gave the company a “buy” rating in a research report on Monday, August 28th. Berenberg Bank reaffirmed a “sell” rating and issued a $10.40 price target on shares of Freeport-McMoran in a research report on Tuesday, September 5th. ValuEngine raised Freeport-McMoran from a “hold” rating to a “buy” rating in a research report on Thursday, August 31st. Deutsche Bank AG lowered Freeport-McMoran from a “hold” rating to a “sell” rating and set a $13.00 price target on the stock. in a research report on Tuesday, October 17th. Finally, FBR & Co reaffirmed a “hold” rating and issued a $12.00 price target on shares of Freeport-McMoran in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $15.54.
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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