Freeport-McMoran, Inc. (FCX) Position Decreased by Fayez Sarofim & Co.
Fayez Sarofim & Co. lessened its holdings in Freeport-McMoran, Inc. (NYSE:FCX) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,437 shares of the natural resource company’s stock after selling 20,150 shares during the period. Fayez Sarofim & Co.’s holdings in Freeport-McMoran were worth $2,379,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. IHT Wealth Management LLC increased its stake 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 valued at $843,000 after purchasing an additional 375 shares in the last quarter. 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. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Freeport-McMoran in the 3rd quarter valued at about $140,000. First Manhattan Co. increased its stake 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 valued at $120,000 after purchasing an additional 33 shares in the last quarter. Finally, Outfitter Advisors LTD. purchased a new position in shares of Freeport-McMoran in the 2nd quarter valued at about $121,000. Hedge funds and other institutional investors own 69.09% of the company’s stock.
In other Freeport-McMoran news, COO Harry M. Iv Conger acquired 36,180 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average cost of $15.23 per share, for a total transaction of $551,021.40. Following the completion of the acquisition, the chief operating officer now owns 73,943 shares of the company’s stock, valued at approximately $1,126,151.89. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.29% of the company’s stock.
Freeport-McMoran, Inc. (NYSE FCX) traded up $0.24 on Friday, reaching $13.86. The company had a trading volume of 15,324,214 shares, compared to its average volume of 16,513,995. Freeport-McMoran, Inc. has a 12-month low of $11.05 and a 12-month high of $17.06. The firm has a market capitalization of $20,063.60, a PE ratio of 15.23 and a beta of 2.57. 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 (NYSE:FCX) last released its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. equities analysts predict that Freeport-McMoran, Inc. will post 1.07 earnings per share for the current year.
Several brokerages recently weighed in on FCX. 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 note on Tuesday, November 14th. B. Riley reiterated a “neutral” rating on shares of Freeport-McMoran in a research note on Wednesday, November 1st. UBS AG boosted their price objective on Freeport-McMoran from $13.50 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. ValuEngine upgraded Freeport-McMoran from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, FBR & Co reiterated a “hold” rating and set a $12.00 price objective on shares of Freeport-McMoran in a research note on Thursday, October 26th. Two equities 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 issued a strong buy rating to the company. Freeport-McMoran presently has an average rating of “Hold” and an average target price of $15.54.
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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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