Teachers Advisors LLC trimmed its holdings in shares of Freeport-McMoRan Inc (NYSE:FCX) by 15.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,968,863 shares of the natural resource company’s stock after selling 1,066,160 shares during the period. Teachers Advisors LLC owned approximately 0.41% of Freeport-McMoRan worth $113,170,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Beacon Advisors Inc. acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at $131,000. Thompson Davis & CO. Inc. lifted its stake in shares of Freeport-McMoRan by 756.8% in the 4th quarter. Thompson Davis & CO. Inc. now owns 9,348 shares of the natural resource company’s stock valued at $177,000 after purchasing an additional 8,257 shares during the period. Ballew Advisors Inc acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at $190,000. Sowell Financial Services LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at $196,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $150,000. Hedge funds and other institutional investors own 69.84% of the company’s stock.
Several equities analysts recently issued reports on FCX shares. Zacks Investment Research upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Tuesday, November 14th. Royal Bank of Canada reiterated a “hold” rating and issued a $17.00 target price on shares of Freeport-McMoRan in a research note on Tuesday, December 5th. B. Riley set a $13.00 target price on shares of Freeport-McMoRan and gave the company a “hold” rating in a research note on Wednesday, December 6th. Morgan Stanley upgraded shares of Freeport-McMoRan from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $10.00 to $14.00 in a research report on Monday, December 11th. Finally, Scotiabank restated a “hold” rating and set a $19.00 price objective on shares of Freeport-McMoRan in a research report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.75.
Shares of Freeport-McMoRan Inc (NYSE:FCX) opened at $18.48 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.14 and a quick ratio of 1.37. Freeport-McMoRan Inc has a 1-year low of $11.05 and a 1-year high of $20.25. The stock has a market cap of $26,871.98, a PE ratio of 14.90 and a beta of 2.42.
Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. Freeport-McMoRan had a net margin of 11.08% and a return on equity of 16.57%. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Freeport-McMoRan’s quarterly revenue was up 15.2% on a year-over-year basis. research analysts expect that Freeport-McMoRan Inc will post 2.31 EPS for the current fiscal year.
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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