Freeport-McMoran, Inc. (FCX) Stake Held by Stewart West Indies Trading CO. Ltd.
Stewart West Indies Trading CO. Ltd. held its stake in shares of Freeport-McMoran, Inc. (NYSE:FCX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 929,000 shares of the natural resource company’s stock at the end of the 2nd quarter. Freeport-McMoran makes up approximately 1.0% of Stewart West Indies Trading CO. Ltd.’s investment portfolio, making the stock its 19th largest holding. Stewart West Indies Trading CO. Ltd. owned about 0.06% of Freeport-McMoran worth $11,157,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Sun Life Financial INC lifted its position in Freeport-McMoran by 96,340.0% during the 2nd quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock worth $116,000 after buying an additional 9,634 shares in the last quarter. First Manhattan Co. lifted its position in Freeport-McMoran by 0.3% during the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after buying an additional 33 shares in the last quarter. Outfitter Advisors LTD. bought a new stake in Freeport-McMoran during the 2nd quarter worth about $121,000. Fisher Asset Management LLC bought a new stake in Freeport-McMoran during the 2nd quarter worth about $122,000. Finally, Partnervest Advisory Services LLC bought a new stake in Freeport-McMoran during the 2nd quarter worth about $123,000. 67.94% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO Harry M. Iv Conger acquired 36,180 shares of the stock in a transaction on Thursday, September 7th. The shares were acquired at an average price of $15.23 per share, with a total value of $551,021.40. Following the completion of the transaction, the chief operating officer now owns 73,943 shares in the company, valued at approximately $1,126,151.89. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.29% of the company’s stock.
Several equities research analysts have commented 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 on the stock in a research report on Thursday, June 8th. Deutsche Bank AG reissued a “hold” rating and set a $13.00 price target (down from $14.00) on shares of Freeport-McMoran in a research report on Sunday, June 25th. BidaskClub raised shares of Freeport-McMoran from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. BMO Capital Markets reissued a “hold” rating and set a $15.00 price target on shares of Freeport-McMoran in a research report on Thursday, June 29th. Finally, Zacks Investment Research cut shares of Freeport-McMoran from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Freeport-McMoran presently has an average rating of “Hold” and a consensus target price of $15.49.
Shares of Freeport-McMoran, Inc. (NYSE FCX) traded down 2.949% on Friday, reaching $14.315. 8,314,584 shares of the company were exchanged. The firm has a market capitalization of $20.72 billion, a PE ratio of 20.190 and a beta of 2.54. The company’s 50 day moving average is $14.53 and its 200 day moving average is $13.11. Freeport-McMoran, Inc. has a 12-month low of $9.24 and a 12-month high of $17.06. Freeport-McMoran also was the target of unusually large options trading activity on Thursday. Investors bought 10,798 put options on the stock. This is an increase of approximately 108% compared to the typical daily volume of 5,201 put options.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.67 billion. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) EPS. Analysts forecast that Freeport-McMoran, Inc. will post $0.97 earnings per share for the current year.
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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