Northern Trust Corp increased its stake in Freeport-McMoRan Inc (NYSE:FCX) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,091,006 shares of the natural resource company’s stock after acquiring an additional 446,954 shares during the period. Northern Trust Corp owned approximately 1.45% of Freeport-McMoRan worth $244,867,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. TCG Advisors LP acquired a new stake in Freeport-McMoRan in the first quarter worth approximately $33,000. Rational Advisors LLC raised its stake in shares of Freeport-McMoRan by 107.0% in the 2nd quarter. Rational Advisors LLC now owns 3,261 shares of the natural resource company’s stock worth $38,000 after buying an additional 1,686 shares in the last quarter. Bremer Bank National Association bought a new stake in shares of Freeport-McMoRan in the 1st quarter worth $53,000. Valeo Financial Advisors LLC raised its stake in shares of Freeport-McMoRan by 92.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 4,684 shares of the natural resource company’s stock worth $54,000 after buying an additional 2,248 shares in the last quarter. Finally, Glassman Wealth Services lifted its holdings in shares of Freeport-McMoRan by 5,990.1% in the first quarter. Glassman Wealth Services now owns 5,542 shares of the natural resource company’s stock valued at $71,000 after buying an additional 5,451 shares during the period. Institutional investors and hedge funds own 72.71% of the company’s stock.

NYSE FCX traded down $0.11 on Wednesday, hitting $10.01. 464,542 shares of the company were exchanged, compared to its average volume of 17,917,692. The company’s 50 day moving average price is $9.84 and its 200-day moving average price is $11.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.66 and a quick ratio of 1.32. The firm has a market capitalization of $14.31 billion, a P/E ratio of 6.60 and a beta of 2.42. Freeport-McMoRan Inc has a twelve month low of $8.58 and a twelve month high of $14.90.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Wednesday, July 24th. The natural resource company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Freeport-McMoRan had a net margin of 4.11% and a return on equity of 4.08%. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was down 31.4% on a year-over-year basis. As a group, equities analysts expect that Freeport-McMoRan Inc will post 0.15 EPS for the current year.

FCX has been the subject of several research reports. ValuEngine raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Raymond James reiterated a “market perform” rating and issued a $13.00 price target on shares of Freeport-McMoRan in a research report on Thursday, July 25th. Deutsche Bank raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the company from $12.50 to $13.50 in a report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective on shares of Freeport-McMoRan from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Barclays upgraded shares of Freeport-McMoRan from an “underweight” rating to an “equal weight” rating and set a $12.00 price objective for the company in a research report on Tuesday, July 16th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $13.88.

Freeport-McMoRan Profile

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

Further Reading: Stock Symbols Definition, Examples, Lookup

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

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