ING Groep NV Has $2.49 Million Holdings in Freeport-McMoran, Inc. (FCX)
ING Groep NV trimmed its holdings in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 15.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,199 shares of the natural resource company’s stock after selling 31,240 shares during the quarter. ING Groep NV’s holdings in Freeport-McMoran were worth $2,488,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of FCX. Fisher Asset Management LLC acquired a new stake in shares of Freeport-McMoran in the second quarter valued at about $122,000. State of Alaska Department of Revenue grew its position in shares of Freeport-McMoran by 81.7% in the second quarter. State of Alaska Department of Revenue now owns 30,226 shares of the natural resource company’s stock valued at $363,000 after purchasing an additional 13,590 shares during the last quarter. Eqis Capital Management Inc. grew its position in shares of Freeport-McMoran by 5.9% in the second quarter. Eqis Capital Management Inc. now owns 13,144 shares of the natural resource company’s stock valued at $158,000 after purchasing an additional 731 shares during the last quarter. LS Investment Advisors LLC grew its position in shares of Freeport-McMoran by 5.1% in the second quarter. LS Investment Advisors LLC now owns 36,056 shares of the natural resource company’s stock valued at $433,000 after purchasing an additional 1,740 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Freeport-McMoran by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 82,600 shares of the natural resource company’s stock valued at $992,000 after purchasing an additional 900 shares during the last quarter. 69.68% of the stock is currently owned by hedge funds and other institutional investors.
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In other Freeport-McMoran news, COO Harry M. Iv Conger purchased 36,180 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was purchased at an average price of $15.23 per share, for a total transaction 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 $1,126,151.89. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.29% of the stock is owned by company insiders.
Several equities research analysts have recently issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Freeport-McMoran in a research report on Thursday, July 27th. Zacks Investment Research raised Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Macquarie initiated coverage on Freeport-McMoran in a research report on Thursday, September 7th. They set a “neutral” rating and a $16.00 target price on the stock. FBR & Co reissued a “neutral” rating and set a $12.00 target price (down from $13.00) on shares of Freeport-McMoran in a research report on Thursday, September 14th. Finally, UBS AG lifted their target price on Freeport-McMoran from $13.50 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.54.
Shares of Freeport-McMoran, Inc. (NYSE FCX) traded up $0.24 on Friday, reaching $14.48. 2,676,465 shares of the company’s stock were exchanged, compared to its average volume of 21,311,119. The company has a market capitalization of $20,613.68, a PE ratio of 15.65 and a beta of 2.57. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 1.23. Freeport-McMoran, Inc. has a 1 year low of $11.05 and a 1 year high of $17.06.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Freeport-McMoran had a net margin of 6.20% and a return on equity of 13.35%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 earnings per share. analysts expect that Freeport-McMoran, Inc. will post 1.07 earnings per share for the current fiscal 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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