Capital Growth Management LP Takes Position in Freeport-McMoRan Inc (FCX)

Capital Growth Management LP acquired a new position in shares of Freeport-McMoRan Inc (NYSE:FCX) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 500,000 shares of the natural resource company’s stock, valued at approximately $9,480,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Shell Asset Management Co. raised its holdings in shares of Freeport-McMoRan by 97.9% during the 3rd quarter. Shell Asset Management Co. now owns 160,362 shares of the natural resource company’s stock worth $5,236,000 after acquiring an additional 79,343 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Freeport-McMoRan by 10.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,761,342 shares of the natural resource company’s stock valued at $38,769,000 after buying an additional 270,171 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in Freeport-McMoRan by 114.3% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,667,157 shares of the natural resource company’s stock valued at $23,407,000 after buying an additional 889,048 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Freeport-McMoRan by 4.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 217,817 shares of the natural resource company’s stock valued at $3,058,000 after buying an additional 9,250 shares during the period. Finally, Oakbrook Investments LLC raised its holdings in Freeport-McMoRan by 23.9% during the 3rd quarter. Oakbrook Investments LLC now owns 107,600 shares of the natural resource company’s stock valued at $1,511,000 after buying an additional 20,750 shares during the period. 68.39% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP C Donald Whitmire, Jr. sold 21,500 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the transaction, the vice president now owns 70,239 shares of the company’s stock, valued at approximately $1,368,958.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.29% of the company’s stock.

Freeport-McMoRan Inc (FCX) opened at $18.73 on Friday. The company has a market capitalization of $27,160.00, a price-to-earnings ratio of 15.61 and a beta of 2.48. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.14 and a quick ratio of 1.37. Freeport-McMoRan Inc has a 12-month low of $11.05 and a 12-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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.89 billion. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. Freeport-McMoRan’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 EPS. equities research analysts expect that Freeport-McMoRan Inc will post 2.31 earnings per share for the current fiscal year.

Several analysts recently weighed in on the company. CIBC lowered Freeport-McMoRan from a “sector outperform” rating to a “neutral” rating in a report on Monday, January 22nd. Scotiabank restated a “hold” rating and set a $19.00 price target on shares of Freeport-McMoRan in a report on Monday, January 8th. B. Riley restated a “neutral” rating and set a $18.00 price target (up previously from $16.00) on shares of Freeport-McMoRan in a report on Thursday, January 18th. TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a report on Thursday, January 25th. Finally, Bank of America restated an “underperform” rating and set a $16.00 price target (up previously from $15.00) on shares of Freeport-McMoRan in a report on Friday, January 26th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Freeport-McMoRan has a consensus rating of “Hold” and a consensus target price of $16.24.

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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.

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

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