Freeport-McMoRan Inc (FCX) Shares Sold by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX lessened its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 12.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 214,061 shares of the natural resource company’s stock after selling 31,653 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Freeport-McMoRan were worth $4,059,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Sun Life Financial INC grew its position in 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 acquiring an additional 9,634 shares during the last quarter. Schroder Investment Management Group grew its position in Freeport-McMoRan by 2,015.5% in the 2nd quarter. Schroder Investment Management Group now owns 11,487 shares of the natural resource company’s stock valued at $139,000 after acquiring an additional 10,944 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Freeport-McMoRan in the 3rd quarter valued at $140,000. Abbot Financial Management Inc. bought a new position in Freeport-McMoRan in the 2nd quarter valued at $142,000. Finally, Rothschild Investment Corp IL bought a new position in Freeport-McMoRan in the 3rd quarter valued at $147,000. 68.07% of the stock is currently owned by institutional investors.
Shares of Freeport-McMoRan Inc (NYSE:FCX) opened at $19.88 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.32 and a current ratio of 2.02. The firm has a market capitalization of $28,770.00, a price-to-earnings ratio of 27.61 and a beta of 2.51. Freeport-McMoRan Inc has a 12 month low of $11.05 and a 12 month high of $19.99.
Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $4.31 billion during 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 firm’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. analysts anticipate that Freeport-McMoRan Inc will post 1.09 earnings per share for the current fiscal year.
Several brokerages have commented on FCX. Zacks Investment Research downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday. Scotiabank reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Freeport-McMoRan in a research report on Monday. Morgan Stanley raised Freeport-McMoRan from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $14.00 in a research report on Monday, December 11th. B. Riley upped their price objective on Freeport-McMoRan from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 11th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Freeport-McMoRan in a research report on Tuesday, December 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.80.
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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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