Zeke Capital Advisors LLC trimmed its stake in shares of Freeport-McMoRan Inc (NYSE:FCX) by 24.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,651 shares of the natural resource company’s stock after selling 4,379 shares during the quarter. Zeke Capital Advisors LLC’s holdings in Freeport-McMoRan were worth $259,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Beacon Advisors Inc. bought a new position in Freeport-McMoRan during the 4th quarter valued at $131,000. Belpointe Asset Management LLC bought a new position in Freeport-McMoRan during the 3rd quarter valued at $150,000. Americafirst Capital Management LLC bought a new position in Freeport-McMoRan during the 3rd quarter valued at $170,000. Thompson Davis & CO. Inc. boosted its stake in Freeport-McMoRan by 756.8% during the 4th quarter. Thompson Davis & CO. Inc. now owns 9,348 shares of the natural resource company’s stock valued at $177,000 after acquiring an additional 8,257 shares during the last quarter. Finally, Ballew Advisors Inc bought a new position in Freeport-McMoRan during the 4th quarter valued at $190,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.
A number of research firms have commented on FCX. TheStreet upgraded shares of Freeport-McMoRan from a “c” rating to a “b-” rating in a research note on Thursday, January 25th. Goldman Sachs began coverage on shares of Freeport-McMoRan in a research note on Tuesday. They set a “buy” rating and a $23.00 price objective on the stock. UBS increased their price objective on shares of Freeport-McMoRan from $14.00 to $18.50 and gave the company a “neutral” rating in a research note on Tuesday, March 6th. Royal Bank of Canada increased their price objective on shares of Freeport-McMoRan to $22.00 and gave the company a “sector perform” rating in a research note on Monday, March 12th. Finally, Stifel Nicolaus increased their price objective on shares of Freeport-McMoRan from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.06.
In related news, VP C Donald Whitmire, Jr. sold 21,500 shares of Freeport-McMoRan stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $19.49, for a total value of $419,035.00. Following the sale, the vice president now directly owns 70,239 shares in the company, valued at approximately $1,368,958.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.29% of the company’s stock.
FCX stock traded up $0.13 during trading on Wednesday, hitting $18.62. 679,084 shares of the stock were exchanged, compared to its average volume of 19,488,977. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 2.14. Freeport-McMoRan Inc has a one year low of $11.05 and a one year high of $20.25. The company has a market cap of $26,133.58, a P/E ratio of 14.91 and a beta of 2.42.
Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.89 billion. Freeport-McMoRan had a net margin of 11.08% and a return on equity of 16.57%. Freeport-McMoRan’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $0.25 EPS. equities analysts expect that Freeport-McMoRan Inc will post 2.31 EPS for the current year.
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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