Insider Selling: Freeport-McMoRan Inc (FCX) VP Sells 21,500 Shares of Stock
Freeport-McMoRan Inc (NYSE:FCX) VP C Donald Whitmire, Jr. sold 21,500 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total value of $419,035.00. Following the completion of the transaction, the vice president now directly owns 70,239 shares in the company, valued at approximately $1,368,958.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Freeport-McMoRan Inc (NYSE FCX) opened at $17.97 on Friday. The company has a quick ratio of 1.37, a current ratio of 2.14 and a debt-to-equity ratio of 1.04. Freeport-McMoRan Inc has a 12 month low of $11.05 and a 12 month high of $20.25. The stock has a market capitalization of $26,013.19, a P/E ratio of 14.49 and a beta of 2.50.
Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company posted $0.25 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. sell-side analysts expect that Freeport-McMoRan Inc will post 2 earnings per share for the current year.
Several research analysts have recently commented on FCX shares. Zacks Investment Research raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, October 10th. Royal Bank of Canada set a $14.00 price objective on Freeport-McMoRan and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Deutsche Bank downgraded Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 price objective on the stock. in a research note on Tuesday, October 17th. FBR & Co set a $12.00 price objective on Freeport-McMoRan and gave the stock a “hold” rating in a research note on Friday, October 20th. Finally, ValuEngine raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Freeport-McMoRan has an average rating of “Hold” and a consensus price target of $15.99.
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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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