Freeport-McMoran, Inc. (FCX) Holdings Raised by Comerica Bank
Comerica Bank grew its position in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,310 shares of the natural resource company’s stock after purchasing an additional 5,430 shares during the period. Comerica Bank’s holdings in Freeport-McMoran were worth $5,957,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Shell Asset Management Co. grew its position in shares of Freeport-McMoran by 97.9% during the third quarter. Shell Asset Management Co. now owns 160,362 shares of the natural resource company’s stock valued at $5,236,000 after purchasing an additional 79,343 shares in the last quarter. Hosking Partners LLP grew its position in shares of Freeport-McMoran by 68.7% during the second quarter. Hosking Partners LLP now owns 809,467 shares of the natural resource company’s stock valued at $9,722,000 after purchasing an additional 329,770 shares in the last quarter. AXA purchased a new position in shares of Freeport-McMoran during the second quarter valued at about $15,414,000. Caxton Associates LP purchased a new position in shares of Freeport-McMoran during the second quarter valued at about $7,206,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Freeport-McMoran by 6.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 166,437 shares of the natural resource company’s stock valued at $1,999,000 after purchasing an additional 10,574 shares in the last quarter. Hedge funds and other institutional investors own 69.68% of the company’s stock.
FCX has been the subject of several recent research reports. ValuEngine upgraded Freeport-McMoran from a “hold” rating to a “buy” rating in a research report on Thursday, August 31st. Zacks Investment Research upgraded Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday, October 10th. Royal Bank Of Canada set a $14.00 price target on Freeport-McMoran and gave the stock a “hold” rating in a research report on Wednesday, October 11th. FBR & Co reiterated a “neutral” rating and issued a $12.00 price target (down previously from $13.00) on shares of Freeport-McMoran in a research report on Thursday, September 14th. Finally, Berenberg Bank set a $10.00 price objective on shares of Freeport-McMoran and gave the stock a “sell” rating in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Freeport-McMoran has a consensus rating of “Hold” and an average target price of $15.54.
In related news, COO Harry M. Iv Conger acquired 36,180 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average cost of $15.23 per share, with a total value of $551,021.40. Following the completion of the acquisition, 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 filing with the SEC, which can be accessed through this link. 1.29% of the stock is owned by insiders.
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Shares of Freeport-McMoran, Inc. (FCX) opened at $14.15 on Tuesday. The firm has a market cap of $20,190.00, a price-to-earnings ratio of 15.23 and a beta of 2.55. The company has a current ratio of 2.02, a quick ratio of 1.32 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.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.06 billion. Freeport-McMoran had a net margin of 6.20% and a return on equity of 13.35%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. analysts predict that Freeport-McMoran, Inc. will post 1.07 EPS for the current fiscal 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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