Hosking Partners LLP raised its stake in shares of Freeport-McMoRan Inc (NYSE:FCX) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 874,342 shares of the natural resource company’s stock after acquiring an additional 61,647 shares during the period. Hosking Partners LLP owned approximately 0.06% of Freeport-McMoRan worth $16,578,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hourglass Capital LLC increased its position in shares of Freeport-McMoRan by 9.4% during the fourth quarter. Hourglass Capital LLC now owns 185,500 shares of the natural resource company’s stock valued at $3,517,000 after acquiring an additional 16,000 shares during the last quarter. Barings LLC increased its position in shares of Freeport-McMoRan by 82.4% during the fourth quarter. Barings LLC now owns 310,868 shares of the natural resource company’s stock valued at $5,894,000 after acquiring an additional 140,400 shares during the last quarter. Sei Investments Co. increased its position in shares of Freeport-McMoRan by 22.1% during the fourth quarter. Sei Investments Co. now owns 275,359 shares of the natural resource company’s stock valued at $5,221,000 after acquiring an additional 49,856 shares during the last quarter. New Mexico Educational Retirement Board increased its position in shares of Freeport-McMoRan by 4.5% during the fourth quarter. New Mexico Educational Retirement Board now owns 129,330 shares of the natural resource company’s stock valued at $2,452,000 after acquiring an additional 5,600 shares during the last quarter. Finally, River & Mercantile Asset Management LLP increased its position in shares of Freeport-McMoRan by 25.0% during the fourth quarter. River & Mercantile Asset Management LLP now owns 488,190 shares of the natural resource company’s stock valued at $9,263,000 after acquiring an additional 97,690 shares during the last quarter. Institutional investors and hedge funds own 68.39% of the company’s stock.
In related news, VP C Donald Whitmire, Jr. sold 21,500 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, January 31st. The shares were 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 owns 70,239 shares in the company, valued at $1,368,958.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.29% of the stock is owned by insiders.
Freeport-McMoRan Inc (NYSE:FCX) opened at $17.80 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 2.14 and a debt-to-equity ratio of 1.04. The firm has a market cap of $25,434.15, a P/E ratio of 15.02 and a beta of 2.50. Freeport-McMoRan Inc has a twelve month low of $11.05 and a twelve month high of $20.25.
Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Freeport-McMoRan had a net margin of 11.08% and a return on equity of 16.57%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. research analysts expect that Freeport-McMoRan Inc will post 2.2 EPS for the current fiscal year.
A number of brokerages have weighed in on FCX. Stifel Nicolaus lifted their price target on shares of Freeport-McMoRan from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Tuesday, February 6th. TheStreet upgraded shares of Freeport-McMoRan from a “c” rating to a “b-” rating in a research report on Thursday, January 25th. Bank of America reiterated an “underperform” rating and set a $16.00 price target (up from $15.00) on shares of Freeport-McMoRan in a research report on Friday, January 26th. CIBC cut shares of Freeport-McMoRan from a “sector outperform” rating to a “neutral” rating in a research report on Monday, January 22nd. Finally, B. Riley reiterated a “neutral” rating and set a $18.00 price target (up from $16.00) on shares of Freeport-McMoRan in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Freeport-McMoRan currently has a consensus rating of “Hold” and a consensus target price of $16.24.
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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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