Edmond DE Rothschild Holding S.A. decreased its stake in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 23.4% during the first quarter, Holdings Channel reports. The firm owned 39,565 shares of the natural resource company’s stock after selling 12,055 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Freeport-McMoran were worth $529,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Freeport-McMoran during the fourth quarter valued at about $4,983,000. Cigna Investments Inc. New purchased a new stake in shares of Freeport-McMoran during the fourth quarter valued at $608,000. L & S Advisors Inc purchased a new stake in shares of Freeport-McMoran during the fourth quarter valued at $2,680,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Freeport-McMoran by 26.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 191,909 shares of the natural resource company’s stock valued at $2,553,000 after buying an additional 40,087 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Freeport-McMoran by 14.6% in the fourth quarter. AQR Capital Management LLC now owns 3,067,328 shares of the natural resource company’s stock valued at $40,458,000 after buying an additional 389,926 shares during the last quarter. 69.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Freeport-McMoran, Inc. (NYSE FCX) opened at 11.76 on Monday. The company has a market capitalization of $17.01 billion, a P/E ratio of 62.89 and a beta of 2.55. The firm has a 50-day moving average price of $11.75 and a 200 day moving average price of $13.51. Freeport-McMoran, Inc. has a 12-month low of $9.24 and a 12-month high of $17.06.
Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings results on Tuesday, April 25th. The natural resource company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. Freeport-McMoran had a net margin of 1.11% and a return on equity of 7.97%. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the prior year, the business posted ($0.16) earnings per share. The company’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts predict that Freeport-McMoran, Inc. will post $1.02 earnings per share for the current year.
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FCX has been the topic of several recent research reports. Jefferies Group LLC reduced their price target on Freeport-McMoran from $16.00 to $14.50 and set a “buy” rating on the stock in a research note on Thursday, June 8th. Cowen and Company reaffirmed a “buy” rating on shares of Freeport-McMoran in a research note on Tuesday, April 11th. Vetr cut Freeport-McMoran from a “strong-buy” rating to a “buy” rating and set a $14.64 price target on the stock. in a research note on Monday, April 10th. Berenberg Bank raised Freeport-McMoran from a “sell” rating to a “hold” rating and set a $12.00 price target on the stock in a research note on Wednesday, March 22nd. Finally, Deutsche Bank AG raised Freeport-McMoran from a “sell” rating to a “hold” rating and upped their price target for the stock from $12.50 to $14.00 in a research note on Tuesday, March 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $13.59.
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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