33,500 Shares in Freeport-McMoran, Inc. (FCX) Acquired by Yorktown Management & Research Co Inc
Yorktown Management & Research Co Inc purchased a new position in shares of Freeport-McMoran, Inc. (NYSE:FCX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,500 shares of the natural resource company’s stock, valued at approximately $470,000.
Several other institutional investors also recently added to or reduced their stakes in FCX. BT Investment Management Ltd purchased a new stake in shares of Freeport-McMoran during the second quarter worth approximately $94,821,000. BlueMountain Capital Management LLC raised its stake in shares of Freeport-McMoran by 100.4% during the second quarter. BlueMountain Capital Management LLC now owns 26,461 shares of the natural resource company’s stock worth $318,000 after purchasing an additional 6,651,458 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Freeport-McMoran by 4.9% during the second quarter. Vanguard Group Inc. now owns 139,502,519 shares of the natural resource company’s stock worth $1,675,425,000 after purchasing an additional 6,510,840 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Freeport-McMoran by 39.4% during the second quarter. Bank of New York Mellon Corp now owns 20,568,631 shares of the natural resource company’s stock worth $247,029,000 after purchasing an additional 5,810,712 shares during the last quarter. Finally, Contrarius Investment Management Ltd raised its stake in shares of Freeport-McMoran by 700.5% during the second quarter. Contrarius Investment Management Ltd now owns 3,543,051 shares of the natural resource company’s stock worth $42,552,000 after purchasing an additional 3,100,466 shares during the last quarter. Institutional investors and hedge funds own 69.68% of the company’s stock.
In related news, COO Harry M. Iv Conger acquired 36,180 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were acquired at an average price of $15.23 per share, with a total value of $551,021.40. Following the completion of the purchase, the chief operating officer now directly owns 73,943 shares in the company, valued at $1,126,151.89. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.29% of the stock is owned by company insiders.
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Several equities research analysts have recently commented on FCX shares. BMO Capital Markets set a $17.00 price target on Freeport-McMoran and gave the stock a “hold” rating in a research note on Wednesday, July 26th. Cowen and Company upped their price target on Freeport-McMoran from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and set a $18.00 price target on shares of Freeport-McMoran in a research note on Thursday, July 27th. FBR & Co restated a “market perform” rating and set a $13.00 price target (up previously from $12.00) on shares of Freeport-McMoran in a research note on Thursday, July 27th. Finally, Berenberg Bank set a $10.00 price target on Freeport-McMoran and gave the stock a “sell” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.54.
Shares of Freeport-McMoran, Inc. (FCX) traded up $0.08 during mid-day trading on Wednesday, hitting $14.23. The stock had a trading volume of 3,778,857 shares, compared to its average volume of 21,364,326. Freeport-McMoran, Inc. has a twelve month low of $11.05 and a twelve month high of $17.06. The stock has a market capitalization of $20,480.00, a PE ratio of 15.33 and a beta of 2.55. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 1.23.
Freeport-McMoran (NYSE:FCX) last posted its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.06 billion. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 earnings per share. analysts forecast that Freeport-McMoran, Inc. will post 1.07 EPS for the current year.
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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