Freeport-McMoran, Inc. (FCX) Stake Boosted by Guardian Capital Advisors LP
Guardian Capital Advisors LP grew its holdings in Freeport-McMoran, Inc. (NYSE:FCX) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,254 shares of the natural resource company’s stock after purchasing an additional 400 shares during the period. Guardian Capital Advisors LP’s holdings in Freeport-McMoran were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Clinton Group Inc. lifted its stake in shares of Freeport-McMoran by 156.7% in the 2nd quarter. Clinton Group Inc. now owns 670,804 shares of the natural resource company’s stock valued at $8,056,000 after purchasing an additional 409,474 shares during the last quarter. Employees Retirement System of Texas lifted its stake in shares of Freeport-McMoran by 11.2% in the 2nd quarter. Employees Retirement System of Texas now owns 109,000 shares of the natural resource company’s stock valued at $1,309,000 after purchasing an additional 11,000 shares during the last quarter. UBS Oconnor LLC lifted its stake in shares of Freeport-McMoran by 122.8% in the 2nd quarter. UBS Oconnor LLC now owns 113,900 shares of the natural resource company’s stock valued at $1,368,000 after purchasing an additional 613,900 shares during the last quarter. First Allied Advisory Services Inc. lifted its stake in shares of Freeport-McMoran by 3.0% in the 2nd quarter. First Allied Advisory Services Inc. now owns 93,006 shares of the natural resource company’s stock valued at $1,112,000 after purchasing an additional 2,730 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its stake in shares of Freeport-McMoran by 7,804.1% in the 2nd quarter. Balyasny Asset Management LLC now owns 2,302,071 shares of the natural resource company’s stock valued at $27,648,000 after purchasing an additional 2,272,946 shares during the last quarter. 67.94% of the stock is currently owned by institutional investors and hedge funds.
In other Freeport-McMoran news, COO Harry M. Iv Conger purchased 36,180 shares of the stock in a transaction 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 purchase, the chief operating officer now owns 73,943 shares of the company’s stock, valued at $1,126,151.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by insiders.
Several equities analysts have recently commented on FCX shares. ValuEngine raised Freeport-McMoran from a “hold” rating to a “buy” rating in a research note on Thursday, August 31st. FBR & Co reaffirmed a “neutral” rating and issued a $12.00 price target (down previously from $13.00) on shares of Freeport-McMoran in a research note on Thursday, September 14th. Berenberg Bank set a $10.00 price target on Freeport-McMoran and gave the company a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research lowered Freeport-McMoran from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Raymond James Financial, Inc. started coverage on Freeport-McMoran in a research note on Tuesday, August 15th. They issued a “market perform” rating and a $15.00 price target on the stock. 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 stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.51.
Freeport-McMoran, Inc. (NYSE FCX) traded down 2.64% on Friday, hitting $14.04. The stock had a trading volume of 15,716,622 shares. Freeport-McMoran, Inc. has a one year low of $9.24 and a one year high of $17.06. The company’s 50-day moving average is $14.57 and its 200-day moving average is $12.98. The stock has a market cap of $20.32 billion, a P/E ratio of 19.80 and a beta of 2.57.
Freeport-McMoran (NYSE:FCX) last issued its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the previous year, the business earned ($0.02) earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. On average, analysts anticipate that Freeport-McMoran, Inc. will post $0.95 earnings per share for the current fiscal year.
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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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