FDx Advisors Inc. Grows Stake in Freeport-McMoran, Inc. (FCX)

FDx Advisors Inc. lifted its position in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 14.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,414 shares of the natural resource company’s stock after buying an additional 3,790 shares during the quarter. FDx Advisors Inc.’s holdings in Freeport-McMoran were worth $427,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC increased its position in Freeport-McMoran by 27.1% during the 2nd quarter. IHT Wealth Management LLC now owns 1,758 shares of the natural resource company’s stock worth $843,000 after purchasing an additional 375 shares in the last quarter. Sun Life Financial INC increased its position in Freeport-McMoran by 96,340.0% during the 2nd quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock worth $116,000 after purchasing an additional 9,634 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Freeport-McMoran during the 3rd quarter worth about $140,000. First Manhattan Co. increased its position in Freeport-McMoran by 0.3% during the 2nd quarter. First Manhattan Co. now owns 10,067 shares of the natural resource company’s stock worth $120,000 after purchasing an additional 33 shares in the last quarter. Finally, Outfitter Advisors LTD. purchased a new stake in Freeport-McMoran during the 2nd quarter worth about $121,000. 69.68% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoran, Inc. (FCX) opened at $13.86 on Monday. The company has a market capitalization of $20,060.00, a P/E ratio of 15.23 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, Inc. has a 52-week low of $11.05 and a 52-week high of $17.06.

Freeport-McMoran (NYSE:FCX) last released its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The firm 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%. Freeport-McMoran’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. analysts predict that Freeport-McMoran, Inc. will post 1.07 earnings per share for the current fiscal year.

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In related news, COO Harry M. Iv Conger purchased 36,180 shares of Freeport-McMoran stock in a transaction that occurred on Thursday, September 7th. The shares were 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 of the company’s stock, valued at approximately $1,126,151.89. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.29% of the company’s stock.

A number of analysts recently commented on FCX shares. 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 reiterated 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 cut 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, FBR & Co reiterated a “hold” rating and set a $12.00 price objective on shares of Freeport-McMoran in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Freeport-McMoran presently has a consensus rating of “Hold” and a consensus price target of $15.54.

Freeport-McMoran 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.

Institutional Ownership by Quarter for Freeport-McMoran (NYSE:FCX)

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