Franklin Resources Inc. decreased its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,659,268 shares of the natural resource company’s stock after selling 346,300 shares during the quarter. Franklin Resources Inc. owned approximately 0.53% of Freeport-McMoRan worth $145,220,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of FCX. American Beacon Advisors Inc. bought a new stake in Freeport-McMoRan during the fourth quarter valued at $131,000. Belpointe Asset Management LLC bought a new stake in Freeport-McMoRan during the third quarter valued at $150,000. Americafirst Capital Management LLC bought a new stake in Freeport-McMoRan during the third quarter valued at $170,000. Thompson Davis & CO. Inc. boosted its position in Freeport-McMoRan by 756.8% during the fourth quarter. Thompson Davis & CO. Inc. now owns 9,348 shares of the natural resource company’s stock valued at $177,000 after acquiring an additional 8,257 shares during the last quarter. Finally, Ballew Advisors Inc bought a new stake in Freeport-McMoRan during the fourth quarter valued at $190,000. 69.84% of the stock is currently owned by institutional investors.
Freeport-McMoRan Inc (NYSE:FCX) opened at $18.48 on Wednesday. The stock has a market cap of $26,871.98, a PE ratio of 14.90 and a beta of 2.42. The company has a current ratio of 2.14, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04. Freeport-McMoRan Inc has a 1 year low of $11.05 and a 1 year high of $20.25.
In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $19.49, for a total transaction of $419,035.00. Following the transaction, the vice president now owns 70,239 shares of the company’s stock, valued at approximately $1,368,958.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.29% of the stock is owned by corporate insiders.
A number of brokerages have commented on FCX. TheStreet raised shares of Freeport-McMoRan from a “c” rating to a “b-” rating in a research report on Thursday, January 25th. Royal Bank of Canada upped their price target on shares of Freeport-McMoRan to $22.00 and gave the company a “sector perform” rating in a research report on Monday. UBS Group upped their price target on shares of Freeport-McMoRan from $14.00 to $18.50 and gave the company a “neutral” rating in a research report on Tuesday, March 6th. Stifel Nicolaus upped their price target on shares of Freeport-McMoRan from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, February 6th. Finally, ValuEngine raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.75.
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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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