Guggenheim Capital LLC lifted its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,305,644 shares of the natural resource company’s stock after acquiring an additional 129,511 shares during the period. Guggenheim Capital LLC owned 0.23% of Freeport-McMoRan worth $62,675,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Beacon Advisors Inc. purchased a new stake in shares of Freeport-McMoRan in the fourth quarter worth about $131,000. Thompson Davis & CO. Inc. lifted its position in shares of Freeport-McMoRan by 756.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 9,348 shares of the natural resource company’s stock worth $177,000 after buying an additional 8,257 shares in the last quarter. Ballew Advisors Inc purchased a new stake in shares of Freeport-McMoRan in the fourth quarter worth about $190,000. Sowell Financial Services LLC purchased a new stake in shares of Freeport-McMoRan in the fourth quarter worth about $196,000. Finally, Belpointe Asset Management LLC purchased a new stake in shares of Freeport-McMoRan in the third quarter worth about $150,000. 69.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Freeport-McMoRan Inc (FCX) opened at $18.48 on Wednesday. Freeport-McMoRan Inc has a 52-week low of $11.05 and a 52-week high of $20.25. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 2.14. The stock has a market capitalization of $26,871.98, a P/E ratio of 14.90 and a beta of 2.42.
In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total value of $419,035.00. Following the sale, the vice president now directly owns 70,239 shares in the company, valued at $1,368,958.11. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.29% of the company’s stock.
A number of research firms recently commented on FCX. Royal Bank of Canada boosted their target price on Freeport-McMoRan to $22.00 and gave the stock a “sector perform” rating in a research report on Monday. UBS Group boosted their target price on Freeport-McMoRan from $14.00 to $18.50 and gave the stock a “neutral” rating in a research report on Tuesday, March 6th. ValuEngine upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Tuesday, February 20th. Stifel Nicolaus boosted their target price on Freeport-McMoRan from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, February 6th. Finally, TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a research report on Thursday, January 25th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Freeport-McMoRan presently has a consensus rating of “Hold” and an average 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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