Freeport-McMoran, Inc. (FCX) Shares Sold by Keybank National Association OH
Keybank National Association OH lessened its stake in Freeport-McMoran, Inc. (NYSE:FCX) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,593 shares of the natural resource company’s stock after selling 3,745 shares during the quarter. Keybank National Association OH’s holdings in Freeport-McMoran were worth $500,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Freeport-McMoran by 46.2% in the 1st quarter. Bank of New York Mellon Corp now owns 14,757,919 shares of the natural resource company’s stock valued at $197,166,000 after purchasing an additional 4,662,665 shares in the last quarter. Parkwood LLC increased its holdings in shares of Freeport-McMoran by 380.3% in the 1st quarter. Parkwood LLC now owns 80,541 shares of the natural resource company’s stock valued at $1,076,000 after purchasing an additional 63,773 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Freeport-McMoran by 10.7% in the 1st quarter. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company’s stock valued at $1,776,769,000 after purchasing an additional 12,897,514 shares in the last quarter. Hodges Capital Management Inc. increased its holdings in shares of Freeport-McMoran by 56.8% in the 1st quarter. Hodges Capital Management Inc. now owns 1,248,890 shares of the natural resource company’s stock valued at $16,685,000 after purchasing an additional 452,565 shares in the last quarter. Finally, Global X Management Co. LLC increased its holdings in shares of Freeport-McMoran by 9.3% in the 1st quarter. Global X Management Co. LLC now owns 185,238 shares of the natural resource company’s stock valued at $2,475,000 after purchasing an additional 15,808 shares in the last quarter. Institutional investors and hedge funds own 67.95% of the company’s stock.
In related news, COO Harry M. Iv Conger acquired 36,180 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $15.23 per share, for a total transaction of $551,021.40. Following the acquisition, the chief operating officer now owns 73,943 shares in the company, valued at $1,126,151.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.
A number of equities analysts have recently issued reports on FCX shares. Jefferies Group LLC cut 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. Deutsche Bank AG reiterated a “hold” rating and issued a $13.00 price target (down previously from $14.00) on shares of Freeport-McMoran in a report on Sunday, June 25th. BidaskClub upgraded shares of Freeport-McMoran from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. BMO Capital Markets reiterated a “hold” rating and issued a $15.00 price target on shares of Freeport-McMoran in a report on Thursday, June 29th. Finally, Zacks Investment Research downgraded shares of Freeport-McMoran from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.99.
Shares of Freeport-McMoran, Inc. (NYSE FCX) opened at 14.39 on Tuesday. Freeport-McMoran, Inc. has a 52-week low of $9.24 and a 52-week high of $17.06. The firm has a market capitalization of $20.83 billion, a PE ratio of 20.30 and a beta of 2.57. The company has a 50 day moving average of $14.64 and a 200 day moving average of $12.94.
Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. Freeport-McMoran’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) EPS. On average, analysts anticipate that Freeport-McMoran, Inc. will post $0.93 earnings per share for the current fiscal year.
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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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