Freeport-McMoran, Inc. (FCX) Position Boosted by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Freeport-McMoran, Inc. (NYSE:FCX) by 133.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 682,746 shares of the natural resource company’s stock after purchasing an additional 389,671 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Freeport-McMoran were worth $9,586,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in FCX. Sun Life Financial INC increased 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 in the last quarter. First Manhattan Co. boosted its holdings in 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 last quarter. Outfitter Advisors LTD. acquired a new stake in Freeport-McMoran in the 2nd quarter worth about $121,000. Partnervest Advisory Services LLC acquired a new stake in Freeport-McMoran in the 2nd quarter worth about $123,000. Finally, United Asset Strategies Inc. acquired a new stake in Freeport-McMoran in the 2nd quarter worth about $127,000. Hedge funds and other institutional investors own 69.68% of the company’s stock.
FCX has been the topic of several research analyst reports. Zacks Investment Research upgraded Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, October 10th. ValuEngine upgraded Freeport-McMoran from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Berenberg Bank set a $10.00 price objective on Freeport-McMoran and gave the stock a “sell” rating in a report on Friday, July 28th. FBR & Co reiterated a “hold” rating and issued a $12.00 price objective on shares of Freeport-McMoran in a report on Thursday, October 26th. Finally, Raymond James Financial, Inc. initiated coverage on Freeport-McMoran in a report on Tuesday, August 15th. They issued a “market perform” rating and a $15.00 price objective on the stock. Two equities 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 issued a strong buy rating to the company. Freeport-McMoran currently has an average rating of “Hold” and a consensus price target of $15.54.
In related news, COO Harry M. Iv Conger bought 36,180 shares of the stock in a transaction dated Thursday, September 7th. The shares were acquired at an average cost of $15.23 per share, for a total transaction of $551,021.40. Following the acquisition, the chief operating officer now directly owns 73,943 shares in the company, valued at approximately $1,126,151.89. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.29% of the company’s stock.
Freeport-McMoran, Inc. (NYSE FCX) opened at $14.35 on Friday. The firm has a market capitalization of $20,613.68, a P/E ratio of 15.65 and a beta of 2.57. Freeport-McMoran, Inc. has a twelve month low of $11.05 and a twelve month high of $17.06. 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 (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 Thomson Reuters’ consensus estimate of $0.31 by $0.03. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. research analysts predict that Freeport-McMoran, Inc. will post 1.07 earnings per share for the current year.
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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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