Investment Centers of America Inc. lowered its holdings in Freeport-McMoran, Inc. (NYSE:FCX) by 83.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,171 shares of the natural resource company’s stock after selling 75,003 shares during the quarter. Investment Centers of America Inc.’s holdings in Freeport-McMoran were worth $211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Manhattan Co. increased its stake in Freeport-McMoran by 0.3% in the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after acquiring an additional 33 shares during the period. IHT Wealth Management LLC grew its stake in Freeport-McMoran by 27.1% during the second quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock worth $843,000 after buying an additional 375 shares during the last quarter. Guardian Capital Advisors LP grew its stake in Freeport-McMoran by 1.2% during the second quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company’s stock worth $427,000 after buying an additional 400 shares during the last quarter. Argent Trust Co grew its stake in Freeport-McMoran by 4.4% during the second quarter. Argent Trust Co now owns 11,818 shares of the natural resource company’s stock worth $142,000 after buying an additional 500 shares during the last quarter. Finally, Freestone Capital Holdings LLC grew its stake in Freeport-McMoran by 1.1% during the second quarter. Freestone Capital Holdings LLC now owns 47,314 shares of the natural resource company’s stock worth $568,000 after buying an additional 507 shares during the last quarter. 68.12% of the stock is currently owned by institutional investors and hedge funds.

In other Freeport-McMoran news, COO Harry M. Iv Conger bought 36,180 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was 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 $1,126,151.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is currently owned by company insiders.

Several analysts have weighed in on FCX shares. Jefferies Group set a $18.00 price objective on shares of Freeport-McMoran and gave the stock a “buy” rating in a research note on Monday, August 28th. Berenberg Bank reiterated a “sell” rating and set a $10.40 target price on shares of Freeport-McMoran in a research report on Tuesday, September 5th. ValuEngine upgraded shares of Freeport-McMoran from a “hold” rating to a “buy” rating in a research report on Thursday, August 31st. Zacks Investment Research upgraded shares of Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Tuesday, November 14th. Finally, FBR & Co restated a “hold” rating and issued a $12.00 price objective on shares of Freeport-McMoran in a report on Thursday, October 26th. Two equities research 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 company currently has an average rating of “Hold” and an average target price of $15.54.

Shares of Freeport-McMoran, Inc. (FCX) opened at $14.11 on Friday. 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 12-month low of $11.05 and a 12-month high of $17.06. The stock has a market cap of $20,150.45, a price-to-earnings ratio of 15.30 and a beta of 2.56.

Freeport-McMoran (NYSE:FCX) last released its earnings results on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.06 billion. Freeport-McMoran had a net margin of 6.20% and a return on equity of 13.35%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. research analysts expect that Freeport-McMoran, Inc. will post 1.07 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/12/02/investment-centers-of-america-inc-has-211000-position-in-freeport-mcmoran-inc-fcx.html.

Freeport-McMoran 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.

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoran, Inc. (NYSE:FCX).

Institutional Ownership by Quarter for Freeport-McMoran (NYSE:FCX)

Receive News & Stock Ratings for Freeport-McMoran Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoran Inc. and related stocks with our FREE daily email newsletter.