Violich Capital Management Inc. increased its stake in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 9.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,000 shares of the natural resource company’s stock after buying an additional 4,000 shares during the period. Violich Capital Management Inc.’s holdings in Freeport-McMoran were worth $632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Freeport-McMoran by 4.9% during the second quarter. Vanguard Group Inc. now owns 139,502,519 shares of the natural resource company’s stock worth $1,675,425,000 after purchasing an additional 6,510,840 shares during the period. Bank of New York Mellon Corp boosted its position in Freeport-McMoran by 18.1% during the third quarter. Bank of New York Mellon Corp now owns 24,292,902 shares of the natural resource company’s stock worth $341,073,000 after purchasing an additional 3,724,271 shares during the period. Dimensional Fund Advisors LP boosted its position in Freeport-McMoran by 5.1% during the third quarter. Dimensional Fund Advisors LP now owns 12,110,654 shares of the natural resource company’s stock worth $170,081,000 after purchasing an additional 589,638 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Freeport-McMoran by 18.8% in the second quarter. TIAA CREF Investment Management LLC now owns 8,810,911 shares of the natural resource company’s stock valued at $105,819,000 after acquiring an additional 1,391,459 shares during the period. Finally, BT Investment Management Ltd boosted its position in shares of Freeport-McMoran by 6.4% in the third quarter. BT Investment Management Ltd now owns 8,402,905 shares of the natural resource company’s stock valued at $118,048,000 after acquiring an additional 507,722 shares during the period. Institutional investors and hedge funds own 68.12% of the company’s stock.

A number of equities analysts have recently commented on FCX shares. Raymond James Financial started coverage on shares of Freeport-McMoran in a research report on Tuesday, August 15th. They issued a “market perform” rating and a $15.00 price objective for the company. BidaskClub upgraded shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Jefferies Group set a $18.00 price objective on shares of Freeport-McMoran and gave the company a “buy” rating in a research report on Monday, August 28th. Vertical Research restated a “buy” rating and issued a $20.00 price objective on shares of Freeport-McMoran in a research report on Tuesday, August 29th. Finally, Stifel Nicolaus set a $15.00 price objective on shares of Freeport-McMoran and gave the company a “hold” rating in a research report on Tuesday, August 29th. 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 given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.72.

Freeport-McMoran, Inc. (NYSE FCX) opened at $14.97 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 1.23. The stock has a market cap of $21,684.75, a price-to-earnings ratio of 16.46 and a beta of 2.56. 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 earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. Freeport-McMoran had a net margin of 6.20% and a return on equity of 13.35%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the business posted $0.13 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. equities research analysts predict that Freeport-McMoran, Inc. will post 1.07 earnings per share for the current year.

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About Freeport-McMoran

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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Institutional Ownership by Quarter for Freeport-McMoran (NYSE:FCX)

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