2 weeks Ago By ABMN Staff
Parallel Advisors LLC reduced its holdings in shares of Freeport-McMoRan Inc. ( NYSE:FCX – Free Report ) by 11.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission.
The firm owned 47,311 shares of the natural resource company’s stock after selling 6,135 shares during the quarter. Parallel Advisors LLC’s holdings in Freeport-McMoRan were worth $2,299,000 at the end of the most recent quarter. Other large investors also recently made changes to their positions in the company.
Vanguard Group Inc. increased its holdings in Freeport-McMoRan by 1.0% in the 1st quarter.
Vanguard Group Inc. now owns 120,698,442 shares of the natural resource company’s stock valued at $5,675,241,000 after purchasing an additional 1,210,833 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Freeport-McMoRan by 22.
0% in the first quarter. Capital Research Global Investors now owns 72,896,288 shares of the natural resource company’s stock worth $3,427,583,000 after buying an additional 13,143,562 shares during the period. Fisher Asset Management LLC grew its stake in shares of Freeport-McMoRan by 1.
8% in the fourth quarter. Fisher Asset Management LLC now owns 55,656,836 shares of the natural resource company’s stock valued at $2,369,312,000 after buying an additional 976,592 shares in the last quarter. Price T Rowe Associates Inc.
MD raised its holdings in shares of Freeport-McMoRan by 6.9% during the 1st quarter. Price T Rowe Associates Inc.
MD now owns 36,882,874 shares of the natural resource company’s stock valued at $1,734,234,000 after buying an additional 2,392,800 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Freeport-McMoRan by 7.9% during the 1st quarter.
Bank of New York Mellon Corp now owns 21,157,118 shares of the natural resource company’s stock worth $994,808,000 after acquiring an additional 1,551,828 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
Wall Street Analyst Weigh In Several brokerages have issued reports on FCX. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Freeport-McMoRan from $48.00 to $51.
00 and gave the company a “hold” rating in a research report on Monday, June 10th. UBS Group raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $54.00 to $55.
00 in a research note on Wednesday, September 4th. BNP Paribas raised shares of Freeport-McMoRan to a “strong-buy” rating in a research report on Friday, June 21st. Scotiabank dropped their target price on Freeport-McMoRan from $58.
00 to $52.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $60.
00 price target on shares of Freeport-McMoRan in a report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.
07. Freeport-McMoRan Price Performance Shares of NYSE FCX opened at $42.66 on Monday.
The company has a current ratio of 2.40, a quick ratio of 1.34 and a debt-to-equity ratio of 0.
30. The company has a market capitalization of $61.28 billion, a price-to-earnings ratio of 37.
75, a price-to-earnings-growth ratio of 1.94 and a beta of 1.89.
Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $55.
24. The business has a 50 day simple moving average of $44.29 and a 200-day simple moving average of $47.
01. Freeport-McMoRan ( NYSE:FCX – Get Free Report ) last released its earnings results on Tuesday, July 23rd. The natural resource company reported $0.
46 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.07.
Freeport-McMoRan had a net margin of 7.83% and a return on equity of 7.60%.
The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6 billion. During the same quarter in the previous year, the firm earned $0.
35 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year.
As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.
Freeport-McMoRan Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Monday, July 15th were issued a $0.15 dividend.
The ex-dividend date was Monday, July 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.
41%. Freeport-McMoRan’s dividend payout ratio is currently 26.55%.
Freeport-McMoRan Profile ( Free Report ) Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.
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