Wealthfront Inc. increased its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,859 shares of the natural resource company’s stock after purchasing an additional 5,553 shares during the period. Wealthfront Inc.’s holdings in Freeport-McMoRan were worth $1,268,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $140,000. Rothschild Investment Corp IL purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $147,000. Belpointe Asset Management LLC purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $150,000. Fox Run Management L.L.C. purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $163,000. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $170,000. 68.40% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently issued reports on FCX shares. TheStreet raised Freeport-McMoRan from a “c” rating to a “b-” rating in a report on Thursday, January 25th. Clarkson Capital raised Freeport-McMoRan from a “neutral” rating to a “buy” rating in a report on Wednesday, January 17th. 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 report on Tuesday, November 14th. ValuEngine raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Finally, Morgan Stanley raised Freeport-McMoRan from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $10.00 to $14.00 in a report on Monday, December 11th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Freeport-McMoRan has a consensus rating of “Hold” and an average target price of $16.24.
Freeport-McMoRan Inc (FCX) opened at $18.50 on Wednesday. The firm has a market capitalization of $27,113.36, a P/E ratio of 14.92 and a beta of 2.48. The company has a current ratio of 2.14, a quick ratio of 1.37 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.
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. analysts forecast that Freeport-McMoRan Inc will post 2.31 earnings per share for the current year.
In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.29% of the company’s stock.
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Freeport-McMoRan Company 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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