Compagnie Lombard Odier SCmA lowered its holdings in shares of Freeport-McMoRan Inc (NYSE:FCX) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,700 shares of the natural resource company’s stock after selling 51,350 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Freeport-McMoRan were worth $2,914,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of FCX. Nationwide Fund Advisors boosted its holdings in Freeport-McMoRan by 36.3% during the 3rd quarter. Nationwide Fund Advisors now owns 510,010 shares of the natural resource company’s stock valued at $7,161,000 after acquiring an additional 135,759 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Freeport-McMoRan by 5.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 187,367 shares of the natural resource company’s stock valued at $2,631,000 after acquiring an additional 9,652 shares during the period. American Century Companies Inc. purchased a new position in Freeport-McMoRan during the 3rd quarter valued at $498,000. Alps Advisors Inc. purchased a new position in Freeport-McMoRan during the 3rd quarter valued at $310,000. Finally, Sei Investments Co. boosted its holdings in Freeport-McMoRan by 41.6% during the 3rd quarter. Sei Investments Co. now owns 225,503 shares of the natural resource company’s stock valued at $3,166,000 after acquiring an additional 66,270 shares during the period. Institutional investors own 69.80% of the company’s stock.
Shares of Freeport-McMoRan stock opened at $19.18 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 2.14. The firm has a market capitalization of $26,770.63, a price-to-earnings ratio of 15.80 and a beta of 2.42. Freeport-McMoRan Inc has a 12 month low of $11.05 and a 12 month high of $20.25.
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, topping 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 return on equity of 16.57% and a net margin of 11.08%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 EPS. analysts anticipate that Freeport-McMoRan Inc will post 2.31 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on FCX shares. Royal Bank of Canada restated a “hold” rating and set a $17.00 price objective on shares of Freeport-McMoRan in a report on Tuesday, December 5th. B. Riley set a $13.00 price objective on Freeport-McMoRan and gave the company a “hold” rating in a report on Wednesday, December 6th. Morgan Stanley upgraded Freeport-McMoRan from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $10.00 to $14.00 in a report on Monday, December 11th. Scotiabank restated a “hold” rating and set a $19.00 price objective on shares of Freeport-McMoRan in a report on Monday, January 8th. Finally, Zacks Investment Research cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $17.06.
In related 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 transaction of $419,035.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.29% of the company’s stock.
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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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