Freeport-McMoran, Inc. (FCX) Shares Sold by Bienville Capital Management LLC
Bienville Capital Management LLC decreased its stake in Freeport-McMoran, Inc. (NYSE:FCX) by 89.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,337 shares of the natural resource company’s stock after selling 95,075 shares during the quarter. Bienville Capital Management LLC’s holdings in Freeport-McMoran were worth $159,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. boosted its position in Freeport-McMoran by 522.6% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 2,554,280 shares of the natural resource company’s stock worth $35,861,000 after purchasing an additional 2,144,008 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its holdings in shares of Freeport-McMoran by 2.0% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 1,919,966 shares of the natural resource company’s stock valued at $26,956,000 after acquiring an additional 37,157 shares during the last quarter. CLS Investments LLC raised its holdings in shares of Freeport-McMoran by 7.8% during the third quarter. CLS Investments LLC now owns 71,031 shares of the natural resource company’s stock valued at $997,000 after acquiring an additional 5,114 shares during the last quarter. Boothbay Fund Management LLC raised its holdings in shares of Freeport-McMoran by 99.3% during the third quarter. Boothbay Fund Management LLC now owns 21,218 shares of the natural resource company’s stock valued at $298,000 after acquiring an additional 10,574 shares during the last quarter. Finally, Monetta Financial Services Inc. acquired a new position in shares of Freeport-McMoran during the third quarter valued at approximately $562,000. Hedge funds and other institutional investors own 68.12% of the company’s stock.
FCX has been the subject of several recent research reports. Vertical Research reaffirmed a “buy” rating and issued a $20.00 price target on shares of Freeport-McMoran in a report on Tuesday, August 29th. Jefferies Group set a $18.00 price target on Freeport-McMoran and gave the company a “buy” rating in a report on Monday, August 28th. ValuEngine raised Freeport-McMoran from a “hold” rating to a “buy” rating in a report on Thursday, August 31st. Zacks Investment Research raised Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, October 10th. Finally, Royal Bank Of Canada set a $14.00 price target on Freeport-McMoran and gave the company a “hold” rating in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.57.
Freeport-McMoran, Inc. (NYSE:FCX) opened at $14.97 on Friday. The stock has a market capitalization of $21,684.75, a price-to-earnings ratio of 16.46 and a beta of 2.56. Freeport-McMoran, Inc. has a fifty-two week low of $11.05 and a fifty-two week high of $17.06. 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 earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. Freeport-McMoran’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. research analysts anticipate that Freeport-McMoran, Inc. will post 1.07 EPS for the current year.
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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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