Maven Securities LTD acquired a new position in Freeport-McMoRan Inc (NYSE:FCX) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 300,000 shares of the natural resource company’s stock, valued at approximately $3,041,000. Freeport-McMoRan makes up 1.8% of Maven Securities LTD’s holdings, making the stock its 12th largest holding.
Several other institutional investors and hedge funds have also recently bought and sold shares of FCX. BlackRock Inc. increased its position in shares of Freeport-McMoRan by 8.9% in the 3rd quarter. BlackRock Inc. now owns 102,252,475 shares of the natural resource company’s stock valued at $1,423,352,000 after buying an additional 8,364,557 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of Freeport-McMoRan by 3.6% during the 3rd quarter. Vanguard Group Inc now owns 154,818,850 shares of the natural resource company’s stock valued at $2,155,078,000 after buying an additional 5,375,340 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Freeport-McMoRan by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 154,818,850 shares of the natural resource company’s stock valued at $2,155,078,000 after buying an additional 5,375,340 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Freeport-McMoRan by 896.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,109,615 shares of the natural resource company’s stock valued at $496,000 after buying an additional 4,596,738 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Freeport-McMoRan by 22,112.8% during the 3rd quarter. Marshall Wace LLP now owns 2,426,078 shares of the natural resource company’s stock valued at $33,771,000 after buying an additional 2,415,156 shares in the last quarter. 70.78% of the stock is currently owned by institutional investors.
FCX has been the topic of a number of recent research reports. TheStreet cut shares of Freeport-McMoRan from a “b-” rating to a “c+” rating in a research note on Monday, November 19th. Citigroup upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $16.00 in a research note on Tuesday, February 19th. ValuEngine cut shares of Freeport-McMoRan from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 24th. Morgan Stanley upgraded shares of Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $16.00 to $14.00 in a research note on Tuesday, February 12th. Finally, Raymond James lowered their target price on shares of Freeport-McMoRan from $14.50 to $14.00 and set a “market perform” rating on the stock in a research note on Friday, January 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $16.13.
Freeport-McMoRan stock traded down $0.02 during trading hours on Thursday, reaching $12.65. The stock had a trading volume of 3,593,594 shares, compared to its average volume of 18,953,316. The firm has a market cap of $18.35 billion, a PE ratio of 8.32 and a beta of 2.27. Freeport-McMoRan Inc has a 52 week low of $9.60 and a 52 week high of $19.70. The company has a quick ratio of 1.79, a current ratio of 3.22 and a debt-to-equity ratio of 0.62.
Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 24th. The natural resource company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.86 billion. Freeport-McMoRan had a return on equity of 15.77% and a net margin of 12.12%. Freeport-McMoRan’s revenue was down 26.9% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. As a group, sell-side analysts expect that Freeport-McMoRan Inc will post 0.44 earnings per share for the current fiscal year.
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Freeport-McMoRan Company Profile
Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.
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