Freeport-McMoran, Inc. (FCX) Stake Held by Leavell Investment Management Inc.
Leavell Investment Management Inc. maintained its position in shares of Freeport-McMoran, Inc. (NYSE:FCX) during the second quarter, Holdings Channel reports. The firm owned 10,042 shares of the natural resource company’s stock at the end of the second quarter. Leavell Investment Management Inc.’s holdings in Freeport-McMoran were worth $121,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in FCX. FMR LLC increased its position in shares of Freeport-McMoran by 104.4% in the first quarter. FMR LLC now owns 42,399,057 shares of the natural resource company’s stock worth $566,451,000 after buying an additional 21,652,647 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Freeport-McMoran by 10.7% in the first quarter. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company’s stock worth $1,776,769,000 after buying an additional 12,897,514 shares in the last quarter. Westpac Banking Corp increased its position in shares of Freeport-McMoran by 1,493.6% in the first quarter. Westpac Banking Corp now owns 7,038,887 shares of the natural resource company’s stock worth $102,454,000 after buying an additional 6,597,176 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Freeport-McMoran during the first quarter worth approximately $84,644,000. Finally, Capital Growth Management LP purchased a new position in shares of Freeport-McMoran during the first quarter worth approximately $71,743,000. Institutional investors and hedge funds own 69.46% of the company’s stock.
Freeport-McMoran, Inc. (NYSE FCX) opened at 12.60 on Monday. Freeport-McMoran, Inc. has a 52-week low of $9.24 and a 52-week high of $17.06. The firm’s 50-day moving average price is $11.71 and its 200 day moving average price is $13.34. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 67.38 and a beta of 2.55.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings results on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.51 billion. Freeport-McMoran had a return on equity of 7.97% and a net margin of 1.11%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) earnings per share. On average, equities research analysts forecast that Freeport-McMoran, Inc. will post $0.99 EPS for the current year.
A number of equities research analysts have recently weighed in on the company. Vetr upgraded Freeport-McMoran from a “buy” rating to a “strong-buy” rating and set a $14.75 price target on the stock in a research note on Wednesday, April 12th. FBR & Co restated a “hold” rating and set a $13.00 price target on shares of Freeport-McMoran in a research note on Wednesday, April 5th. Jefferies Group LLC boosted their price target on Freeport-McMoran to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, March 28th. Deutsche Bank AG reiterated a “hold” rating and issued a $13.00 target price (down previously from $14.00) on shares of Freeport-McMoran in a research report on Sunday, June 25th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $17.00 target price on shares of Freeport-McMoran in a research report on Wednesday, April 19th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Freeport-McMoran presently has a consensus rating of “Hold” and a consensus price target of $13.77.
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.
Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoran, Inc. (NYSE:FCX).
Receive News & Ratings for Freeport-McMoran Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoran Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.