Freeport-McMoran, Inc. (FCX) Shares Bought by Strs Ohio
Strs Ohio increased its position in Freeport-McMoran, Inc. (NYSE:FCX) by 61.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,740 shares of the natural resource company’s stock after buying an additional 32,734 shares during the period. Strs Ohio’s holdings in Freeport-McMoran were worth $1,029,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. M Holdings Securities Inc. increased its stake in Freeport-McMoran by 1.1% in the first quarter. M Holdings Securities Inc. now owns 14,396 shares of the natural resource company’s stock worth $192,000 after buying an additional 150 shares during the last quarter. Conning Inc. raised its position in shares of Freeport-McMoran by 0.8% in the first quarter. Conning Inc. now owns 30,081 shares of the natural resource company’s stock valued at $402,000 after buying an additional 239 shares during the period. Sii Investments Inc. WI raised its position in shares of Freeport-McMoran by 2.3% in the first quarter. Sii Investments Inc. WI now owns 13,643 shares of the natural resource company’s stock valued at $182,000 after buying an additional 305 shares during the period. Sprott Inc. raised its position in shares of Freeport-McMoran by 2.6% in the first quarter. Sprott Inc. now owns 14,777 shares of the natural resource company’s stock valued at $197,000 after buying an additional 375 shares during the period. Finally, North Star Investment Management Corp. raised its position in shares of Freeport-McMoran by 1.4% in the first quarter. North Star Investment Management Corp. now owns 34,028 shares of the natural resource company’s stock valued at $455,000 after buying an additional 477 shares during the period. Institutional investors own 69.94% of the company’s stock.
Shares of Freeport-McMoran, Inc. (NYSE:FCX) opened at 13.97 on Wednesday. The firm has a market capitalization of $20.22 billion, a price-to-earnings ratio of 19.70 and a beta of 2.59. Freeport-McMoran, Inc. has a 52-week low of $9.24 and a 52-week high of $17.06. The firm has a 50-day moving average of $13.37 and a 200 day moving average of $13.03.
Freeport-McMoran (NYSE:FCX) last released its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Freeport-McMoran’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts predict that Freeport-McMoran, Inc. will post $0.89 EPS for the current year.
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Several brokerages have recently commented on FCX. Raymond James Financial, Inc. began coverage on shares of Freeport-McMoran in a research note on Tuesday. They set a “market perform” rating and a $15.00 price target on the stock. FBR & Co restated a “market perform” rating and set a $13.00 price target (up previously from $12.00) on shares of Freeport-McMoran in a research note on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and set a $18.00 price target on shares of Freeport-McMoran in a research note on Thursday, July 27th. Berenberg Bank set a $10.00 price target on shares of Freeport-McMoran and gave the stock a “sell” rating in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $14.32.
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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