Freeport-McMoran, Inc. (FCX) Shares Bought by State of Tennessee Treasury Department
State of Tennessee Treasury Department raised its holdings in Freeport-McMoran, Inc. (NYSE:FCX) by 36.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 495,226 shares of the natural resource company’s stock after acquiring an additional 131,164 shares during the quarter. State of Tennessee Treasury Department’s holdings in Freeport-McMoran were worth $6,953,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Freeport-McMoran by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,502,519 shares of the natural resource company’s stock valued at $1,675,425,000 after acquiring an additional 6,510,840 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Freeport-McMoran by 39.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 20,568,631 shares of the natural resource company’s stock worth $247,029,000 after buying an additional 5,810,712 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Freeport-McMoran by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,521,016 shares of the natural resource company’s stock worth $138,385,000 after buying an additional 944,896 shares during the period. TIAA CREF Investment Management LLC lifted its holdings in shares of Freeport-McMoran by 18.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 8,810,911 shares of the natural resource company’s stock worth $105,819,000 after buying an additional 1,391,459 shares during the period. Finally, BT Investment Management Ltd lifted its holdings in shares of Freeport-McMoran by 6.4% in the 3rd quarter. BT Investment Management Ltd now owns 8,402,905 shares of the natural resource company’s stock worth $118,048,000 after buying an additional 507,722 shares during the period. 69.09% of the stock is currently owned by institutional investors.
Shares of Freeport-McMoran, Inc. (NYSE FCX) opened at $14.41 on Monday. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 1.23. Freeport-McMoran, Inc. has a 12 month low of $11.05 and a 12 month high of $17.06. The company has a market capitalization of $20,859.77, a PE ratio of 15.84 and a beta of 2.57.
Freeport-McMoran (NYSE:FCX) last released its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.13 earnings per share. equities research analysts predict that Freeport-McMoran, Inc. will post 1.07 EPS for the current year.
In other news, COO Harry M. Iv Conger acquired 36,180 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were acquired at an average cost of $15.23 per share, with a total value of $551,021.40. Following the completion of the acquisition, the chief operating officer now owns 73,943 shares of the company’s stock, valued at $1,126,151.89. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.29% of the stock is currently owned by corporate insiders.
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Several equities research analysts have weighed in on FCX shares. Vertical Research reiterated a “buy” rating and issued a $20.00 target price on shares of Freeport-McMoran in a report on Tuesday, August 29th. Jefferies Group LLC set a $18.00 target price on Freeport-McMoran and gave the stock a “buy” rating in a report on Monday, August 28th. ValuEngine upgraded Freeport-McMoran from a “hold” rating to a “buy” rating in a report on Thursday, August 31st. Zacks Investment Research upgraded Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, October 10th. Finally, BMO Capital Markets set a $17.00 target price on Freeport-McMoran and gave the stock a “hold” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Freeport-McMoran presently has an average rating of “Hold” and an average target price of $15.54.
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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