People s United Financial Inc. decreased its stake in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 23.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,386 shares of the natural resource company’s stock after selling 7,326 shares during the quarter. People s United Financial Inc.’s holdings in Freeport-McMoran were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hosking Partners LLP grew its position in shares of Freeport-McMoran by 68.7% during the 2nd quarter. Hosking Partners LLP now owns 809,467 shares of the natural resource company’s stock worth $9,722,000 after buying an additional 329,770 shares during the period. AXA acquired a new stake in shares of Freeport-McMoran during the 2nd quarter worth approximately $15,414,000. Vanguard Group Inc. grew its position in shares of Freeport-McMoran by 10.7% during the 1st 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 during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Freeport-McMoran by 6.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 166,437 shares of the natural resource company’s stock worth $1,999,000 after buying an additional 10,574 shares during the period. Finally, Global X Management Co. LLC grew its position in shares of Freeport-McMoran by 9.3% during the 1st quarter. Global X Management Co. LLC now owns 185,238 shares of the natural resource company’s stock worth $2,475,000 after buying an additional 15,808 shares during the period. 67.94% of the stock is owned by institutional investors.

In other Freeport-McMoran news, COO Harry M. Iv Conger acquired 36,180 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average cost of $15.23 per share, with a total value of $551,021.40. Following the completion of the transaction, the chief operating officer now directly owns 73,943 shares of the company’s stock, valued at approximately $1,126,151.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.29% of the company’s stock.

Several brokerages have recently commented on FCX. Jefferies Group LLC set a $18.00 price objective on shares of Freeport-McMoran and gave the stock a “buy” rating in a research report on Monday, August 28th. Vertical Research reaffirmed a “buy” rating and set a $20.00 price objective on shares of Freeport-McMoran in a research report on Tuesday, August 29th. BidaskClub raised shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Stifel Nicolaus set a $15.00 price objective on shares of Freeport-McMoran and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, Berenberg Bank reaffirmed a “sell” rating and set a $10.40 price objective on shares of Freeport-McMoran in a research report on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Freeport-McMoran presently has an average rating of “Hold” and a consensus target price of $15.49.

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Freeport-McMoran, Inc. (NYSE FCX) opened at 14.33 on Friday. The firm’s 50-day moving average is $14.53 and its 200-day moving average is $13.12. Freeport-McMoran, Inc. has a 12-month low of $9.24 and a 12-month high of $17.06. The stock has a market capitalization of $20.74 billion, a P/E ratio of 20.21 and a beta of 2.54. Freeport-McMoran also saw some unusual options trading on Thursday. Stock traders bought 10,798 put options on the stock. This is an increase of 108% compared to the typical daily volume of 5,201 put options.

Freeport-McMoran (NYSE:FCX) last released its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. During the same period last year, the business earned ($0.02) earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts predict that Freeport-McMoran, Inc. will post $0.97 EPS for the current fiscal year.

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.

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

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