Jefferies Financial Group Inc. grew its holdings in shares of Freeport-McMoRan Inc (NYSE:FCX) by 44.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 322,177 shares of the natural resource company’s stock after acquiring an additional 98,385 shares during the period. Freeport-McMoRan comprises about 0.4% of Jefferies Financial Group Inc.’s investment portfolio, making the stock its 23rd biggest holding. Jefferies Financial Group Inc.’s holdings in Freeport-McMoRan were worth $3,322,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in FCX. Rational Advisors LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter valued at about $26,000. Lindbrook Capital LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter valued at about $28,000. JOYN Advisors Inc. grew its stake in shares of Freeport-McMoRan by 141.1% during the fourth quarter. JOYN Advisors Inc. now owns 2,806 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 1,642 shares in the last quarter. Athena Capital Advisors LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter valued at about $30,000. Finally, Essex Savings Bank acquired a new stake in shares of Freeport-McMoRan during the fourth quarter valued at about $44,000. Institutional investors own 70.78% of the company’s stock.
Several brokerages have recently weighed in on FCX. Morgan Stanley downgraded Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, February 13th. Citigroup upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $16.00 in a research note on Tuesday, February 19th. Zacks Investment Research upgraded Freeport-McMoRan from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 14th. ValuEngine upgraded Freeport-McMoRan from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 10th. Finally, Raymond James decreased their price target on Freeport-McMoRan from $14.50 to $14.00 and set a “market perform” rating for the company in a research note on Friday, January 25th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $16.13.
Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 24th. The natural resource company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.07). Freeport-McMoRan had a return on equity of 15.77% and a net margin of 12.12%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the prior year, the business earned $0.51 EPS. The business’s revenue was down 26.9% on a year-over-year basis. As a group, equities research analysts expect that Freeport-McMoRan Inc will post 0.44 earnings per share for the current year.
In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 7,425 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $11.58, for a total value of $85,981.50. Following the transaction, the vice president now owns 67,974 shares of the company’s stock, valued at $787,138.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.
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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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