SeaCrest Wealth Management LLC acquired a new position in Freeport-McMoRan Inc (NYSE:FCX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,810 shares of the natural resource company’s stock, valued at approximately $414,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in FCX. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Freeport-McMoRan in the third quarter worth $140,000. Rothschild Investment Corp IL purchased a new stake in shares of Freeport-McMoRan in the third quarter worth $147,000. Belpointe Asset Management LLC purchased a new stake in shares of Freeport-McMoRan in the third quarter worth $150,000. Fox Run Management L.L.C. purchased a new stake in shares of Freeport-McMoRan in the third quarter worth $163,000. Finally, Americafirst Capital Management LLC purchased a new position in Freeport-McMoRan during the third quarter valued at $170,000. 68.21% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on FCX. B. Riley reaffirmed a “neutral” rating on shares of Freeport-McMoRan in a research note on Wednesday, November 1st. TheStreet raised shares of Freeport-McMoRan from a “c” rating to a “b-” rating in a research note on Thursday, January 25th. Deutsche Bank cut shares of Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 target price for the company. in a research note on Tuesday, October 17th. Zacks Investment Research cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, CIBC cut shares of Freeport-McMoRan from a “sector outperform” rating to a “neutral” rating in a research note on Monday, January 22nd. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $16.13.
Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 25th. The natural resource company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Freeport-McMoRan had a net margin of 11.08% and a return on equity of 16.57%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the business earned $0.25 earnings per share. Freeport-McMoRan’s quarterly revenue was up 15.2% compared to the same quarter last year. equities research analysts forecast that Freeport-McMoRan Inc will post 2.12 EPS for the current fiscal year.
In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $19.49, for a total transaction of $419,035.00. Following the completion of the transaction, the vice president now owns 70,239 shares in the company, valued at $1,368,958.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.29% of the stock is owned by company insiders.
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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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