Freeport-McMoran, Inc. (FCX) COO Harry M. Iv Conger Buys 36,180 Shares
Freeport-McMoran, Inc. (NYSE:FCX) COO Harry M. Iv Conger bought 36,180 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average price of $15.23 per share, with a total value of $551,021.40. Following the completion of the purchase, the chief operating officer now directly owns 73,943 shares in the company, valued at approximately $1,126,151.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Freeport-McMoran, Inc. (FCX) traded down 6.38% during trading on Friday, hitting $14.24. 27,476,788 shares of the stock were exchanged. Freeport-McMoran, Inc. has a 52 week low of $9.24 and a 52 week high of $17.06. The stock’s 50 day moving average price is $14.56 and its 200 day moving average price is $12.95. The firm has a market capitalization of $20.61 billion, a price-to-earnings ratio of 20.08 and a beta of 2.57.
Freeport-McMoran (NYSE:FCX) last released its earnings results on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Freeport-McMoran had a net margin of 5.97% and a return on equity of 10.45%. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the prior year, the business posted ($0.02) EPS. Freeport-McMoran’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities analysts predict that Freeport-McMoran, Inc. will post $0.91 earnings per share for the current year.
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Several equities research analysts recently issued reports on the stock. Macquarie assumed coverage on shares of Freeport-McMoran in a research note on Thursday. They issued a “neutral” rating and a $16.00 target price for the company. Berenberg Bank restated a “sell” rating and set a $10.40 price objective on shares of Freeport-McMoran in a research report on Tuesday. ValuEngine upgraded shares of Freeport-McMoran from a “hold” rating to a “buy” rating in a research report on Thursday, August 31st. Stifel Nicolaus set a $15.00 price objective on shares of Freeport-McMoran and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, Vertical Research restated a “buy” rating and set a $20.00 price objective on shares of Freeport-McMoran in a research report on Tuesday, August 29th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.99.
A number of institutional investors have recently made changes to their positions in FCX. Nationwide Fund Advisors grew its holdings in Freeport-McMoran by 11.0% in the 1st quarter. Nationwide Fund Advisors now owns 374,251 shares of the natural resource company’s stock worth $5,000,000 after acquiring an additional 36,936 shares during the last quarter. Strs Ohio grew its holdings in Freeport-McMoran by 6.9% in the 1st quarter. Strs Ohio now owns 53,006 shares of the natural resource company’s stock worth $708,000 after acquiring an additional 3,420 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Freeport-McMoran by 8.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 138,924 shares of the natural resource company’s stock worth $1,856,000 after acquiring an additional 11,300 shares during the last quarter. Tyers Asset Management LLC grew its holdings in Freeport-McMoran by 6.3% in the 1st quarter. Tyers Asset Management LLC now owns 26,304 shares of the natural resource company’s stock worth $351,000 after acquiring an additional 1,568 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new stake in Freeport-McMoran in the 1st quarter worth $166,000. 67.94% of the stock is currently owned by institutional investors and hedge funds.
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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