Principal Financial Group Inc. lifted its position in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 42.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,234,538 shares of the natural resource company’s stock after acquiring an additional 1,260,011 shares during the quarter. Principal Financial Group Inc. owned 0.29% of Freeport-McMoran worth $59,452,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in FCX. Fisher Asset Management LLC purchased a new stake in shares of Freeport-McMoran during the 2nd quarter worth approximately $122,000. State of Alaska Department of Revenue boosted its stake in shares of Freeport-McMoran by 81.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 30,226 shares of the natural resource company’s stock worth $363,000 after acquiring an additional 13,590 shares in the last quarter. National Pension Service boosted its stake in shares of Freeport-McMoran by 9.9% during the 2nd quarter. National Pension Service now owns 1,226,341 shares of the natural resource company’s stock worth $14,814,000 after acquiring an additional 110,503 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Freeport-McMoran by 548.3% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 223,671 shares of the natural resource company’s stock worth $2,686,000 after acquiring an additional 189,172 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in shares of Freeport-McMoran by 5.9% during the 2nd quarter. Eqis Capital Management Inc. now owns 13,144 shares of the natural resource company’s stock worth $158,000 after acquiring an additional 731 shares in the last quarter. 69.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of Freeport-McMoran, Inc. (NYSE:FCX) opened at $14.43 on Tuesday. The company has a market capitalization of $20,859.77, a price-to-earnings ratio of 15.84 and a beta of 2.57. 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, Inc. has a twelve month low of $11.05 and a twelve month high of $17.06.
Freeport-McMoran (NYSE:FCX) last released its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 EPS. research analysts predict that Freeport-McMoran, Inc. will post 1.07 earnings per share for the current year.
In other Freeport-McMoran news, COO Harry M. Iv Conger purchased 36,180 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was purchased at an average cost of $15.23 per share, with a total value of $551,021.40. Following the transaction, the chief operating officer now owns 73,943 shares in the company, valued at $1,126,151.89. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.29% of the company’s stock.
Several research analysts recently issued reports on the company. Jefferies Group LLC set a $18.00 price objective on Freeport-McMoran and gave the stock a “buy” rating in a research report on Monday, August 28th. Berenberg Bank restated a “sell” rating and set a $10.40 price objective on shares of Freeport-McMoran in a research report on Tuesday, September 5th. ValuEngine upgraded Freeport-McMoran from a “hold” rating to a “buy” rating in a research report on Thursday, August 31st. Deutsche Bank AG downgraded Freeport-McMoran from a “hold” rating to a “sell” rating and set a $13.00 price objective for the company. in a research report on Tuesday, October 17th. Finally, BMO Capital Markets set a $17.00 price objective on Freeport-McMoran and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Freeport-McMoran has an average rating of “Hold” and an average price target of $15.54.
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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