Freeport-McMoran, Inc. (FCX) Position Reduced by Wheatland Advisors Inc.
Wheatland Advisors Inc. lowered its position in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,906 shares of the natural resource company’s stock after selling 1,000 shares during the period. Wheatland Advisors Inc.’s holdings in Freeport-McMoran were worth $299,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in Freeport-McMoran during the first quarter worth approximately $222,000. Bank of New York Mellon Corp raised its stake in Freeport-McMoran by 46.2% in the first quarter. Bank of New York Mellon Corp now owns 14,757,919 shares of the natural resource company’s stock worth $197,166,000 after buying an additional 4,662,665 shares in the last quarter. Parkwood LLC raised its stake in Freeport-McMoran by 380.3% in the first quarter. Parkwood LLC now owns 80,541 shares of the natural resource company’s stock worth $1,076,000 after buying an additional 63,773 shares in the last quarter. ARP Americas LLC purchased a new stake in Freeport-McMoran during the first quarter worth approximately $150,000. Finally, Vanguard Group Inc. raised its stake in Freeport-McMoran by 10.7% in the first quarter. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company’s stock worth $1,776,769,000 after buying an additional 12,897,514 shares in the last quarter. Institutional investors own 69.45% of the company’s stock.
Freeport-McMoran, Inc. (NYSE:FCX) opened at 14.59 on Thursday. The company has a market capitalization of $21.11 billion, a price-to-earnings ratio of 20.58 and a beta of 2.59. Freeport-McMoran, Inc. has a 52 week low of $9.24 and a 52 week high of $17.06. The company has a 50 day moving average of $13.08 and a 200 day moving average of $13.12.
Freeport-McMoran (NYSE:FCX) last released its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.04. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.67 billion. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. On average, equities analysts forecast that Freeport-McMoran, Inc. will post $0.87 EPS for the current fiscal year.
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FCX has been the subject of a number of recent analyst reports. Berenberg Bank set a $10.00 price target on shares of Freeport-McMoran and gave the company a “sell” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of Freeport-McMoran from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Vetr upgraded shares of Freeport-McMoran from a “buy” rating to a “strong-buy” rating and set a $14.36 price target for the company in a report on Monday, May 1st. Jefferies Group LLC lowered their price target on shares of Freeport-McMoran from $16.00 to $14.50 and set a “buy” rating for the company in a report on Thursday, June 8th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $17.00 price objective on shares of Freeport-McMoran in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Freeport-McMoran has an average rating of “Hold” and a consensus price target of $14.27.
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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