Freeport-McMoran, Inc. (NYSE:FCX) VP C Donald Whitmire, Jr. sold 57,620 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $15.42, for a total transaction of $888,500.40. Following the transaction, the vice president now directly owns 64,896 shares of the company’s stock, valued at $1,000,696.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Freeport-McMoran, Inc. (NYSE:FCX) traded up 2.66% on Friday, reaching $15.80. 45,512,545 shares of the company’s stock were exchanged. The stock’s market cap is $22.75 billion. The company’s 50 day moving average price is $15.26 and its 200-day moving average price is $12.82. Freeport-McMoran, Inc. has a 52-week low of $5.08 and a 52-week high of $17.06.
Freeport-McMoran (NYSE:FCX) last issued its quarterly earnings data on Wednesday, January 25th. The natural resource company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.08. The business earned $4.38 billion during the quarter, compared to the consensus estimate of $4.34 billion. Freeport-McMoran had a negative net margin of 28.09% and a positive return on equity of 3.52%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.02) EPS. Equities analysts forecast that Freeport-McMoran, Inc. will post $1.10 EPS for the current fiscal year.
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A number of equities analysts have recently commented on the stock. Jefferies Group LLC set a $15.00 price objective on shares of Freeport-McMoran and gave the stock a “buy” rating in a report on Sunday, October 16th. Deutsche Bank AG reissued a “hold” rating and set a $14.00 price target on shares of Freeport-McMoran in a report on Tuesday. Cowen and Company reissued an “outperform” rating and set a $20.00 price target (up from $15.00) on shares of Freeport-McMoran in a report on Wednesday, December 7th. Zacks Investment Research downgraded shares of Freeport-McMoran from a “buy” rating to a “hold” rating in a report on Monday, January 30th. Finally, Vetr raised shares of Freeport-McMoran from a “hold” rating to a “buy” rating and set a $16.04 price target for the company in a report on Wednesday, January 18th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.96.
Hedge funds and other institutional investors have recently modified their holdings of the stock. TRUE Private Wealth Advisors acquired a new position in shares of Freeport-McMoran during the third quarter worth about $106,000. Strid Group LLC acquired a new position in shares of Freeport-McMoran during the third quarter worth about $112,000. RiverPoint Capital Management LLC acquired a new position in shares of Freeport-McMoran during the third quarter worth about $114,000. Ancora Inverness LLC acquired a new position in shares of Freeport-McMoran during the third quarter worth about $115,000. Finally, Checchi Capital Advisers LLC raised its position in shares of Freeport-McMoran by 30.2% in the third quarter. Checchi Capital Advisers LLC now owns 10,897 shares of the natural resource company’s stock worth $118,000 after buying an additional 2,525 shares during the period. Institutional investors and hedge funds own 70.66% of the company’s stock.
Freeport-McMoRan Inc (FCX) is a natural resource company with a portfolio of mineral assets, and oil and natural gas resources. The Company’s segments include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining operations and the U.S. Oil & Gas Operations. It has organized its operations into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines.
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