TD Asset Management Inc. decreased its position in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 17.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 431,604 shares of the natural resource company’s stock after selling 89,244 shares during the period. TD Asset Management Inc.’s holdings in Freeport-McMoran were worth $6,060,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sun Life Financial INC increased its stake in Freeport-McMoran by 96,340.0% during the second quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock valued at $116,000 after acquiring an additional 9,634 shares during the period. First Manhattan Co. lifted its holdings in Freeport-McMoran by 0.3% during the second quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock valued at $120,000 after purchasing an additional 33 shares in the last quarter. Outfitter Advisors LTD. purchased a new position in Freeport-McMoran during the second quarter valued at approximately $121,000. Partnervest Advisory Services LLC bought a new stake in shares of Freeport-McMoran during the second quarter valued at approximately $123,000. Finally, United Asset Strategies Inc. bought a new stake in shares of Freeport-McMoran during the second quarter valued at approximately $127,000. 68.12% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on FCX. Vertical Research reiterated a “buy” rating and set a $20.00 price objective on shares of Freeport-McMoran in a research report on Tuesday, August 29th. Jefferies Group set a $18.00 price objective on shares of Freeport-McMoran and gave the company a “buy” rating in a research report on Monday, August 28th. BidaskClub upgraded shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Deutsche Bank cut shares of Freeport-McMoran from a “hold” rating to a “sell” rating and set a $13.00 price objective on the stock. in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus set a $15.00 price objective on shares of Freeport-McMoran and gave the company a “hold” rating in a research report on Tuesday, August 29th. 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. The stock currently has an average rating of “Hold” and an average target price of $15.57.

Freeport-McMoran, Inc. (FCX) traded down $0.19 during trading hours on Wednesday, reaching $14.11. 19,535,100 shares of the company were exchanged, compared to its average volume of 21,046,389. Freeport-McMoran, Inc. has a 52 week low of $11.05 and a 52 week high of $17.06. The stock has a market capitalization of $20,700.54, a price-to-earnings ratio of 15.71 and a beta of 2.56. 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 (NYSE:FCX) last released its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. Freeport-McMoran had a net margin of 6.20% and a return on equity of 13.35%. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the firm earned $0.13 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. sell-side analysts predict that Freeport-McMoran, Inc. will post 1.07 EPS for the current fiscal year.

In other Freeport-McMoran news, COO Harry M. Iv Conger acquired 36,180 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average cost of $15.23 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is owned by corporate insiders.

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About Freeport-McMoran

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

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