Cornerstone Capital Management Holdings LLC. raised its position in Freeport-McMoRan Inc (NYSE:FCX) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,751,734 shares of the natural resource company’s stock after purchasing an additional 197,454 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned 0.19% of Freeport-McMoRan worth $52,171,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Advisor Partners LLC raised its holdings in shares of Freeport-McMoRan by 5.2% in the 4th quarter. Advisor Partners LLC now owns 52,835 shares of the natural resource company’s stock worth $1,055,000 after purchasing an additional 2,610 shares during the period. Wesbanco Bank Inc. raised its holdings in shares of Freeport-McMoRan by 19.8% in the 4th quarter. Wesbanco Bank Inc. now owns 17,615 shares of the natural resource company’s stock worth $334,000 after purchasing an additional 2,911 shares during the period. Point View Wealth Management Inc. raised its holdings in shares of Freeport-McMoRan by 17.0% in the 4th quarter. Point View Wealth Management Inc. now owns 21,554 shares of the natural resource company’s stock worth $409,000 after purchasing an additional 3,135 shares during the period. Grassi Investment Management grew its stake in shares of Freeport-McMoRan by 6.1% in the fourth quarter. Grassi Investment Management now owns 62,800 shares of the natural resource company’s stock valued at $1,191,000 after buying an additional 3,600 shares in the last quarter. Finally, FDx Advisors Inc. grew its stake in shares of Freeport-McMoRan by 14.2% in the third quarter. FDx Advisors Inc. now owns 30,414 shares of the natural resource company’s stock valued at $427,000 after buying an additional 3,790 shares in the last quarter. Institutional investors own 69.84% of the company’s stock.
In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the completion of the sale, the vice president now owns 70,239 shares in the company, valued at approximately $1,368,958.11. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.29% of the stock is owned by company insiders.
Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the firm earned $0.25 EPS. Freeport-McMoRan’s quarterly revenue was up 15.2% on a year-over-year basis. equities research analysts forecast that Freeport-McMoRan Inc will post 2.31 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the company. TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a research note on Thursday, January 25th. Royal Bank of Canada increased their target price on Freeport-McMoRan to $22.00 and gave the company a “sector perform” rating in a research note on Monday. UBS Group increased their target price on Freeport-McMoRan from $14.00 to $18.50 and gave the company a “neutral” rating in a research note on Tuesday, March 6th. Stifel Nicolaus increased their target price on Freeport-McMoRan from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, February 6th. Finally, ValuEngine upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Tuesday, February 20th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Freeport-McMoRan presently has a consensus rating of “Hold” and a consensus target price of $16.75.
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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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