Handelsbanken Fonder AB Sells 71,595 Shares of Freeport-McMoRan Inc. (NYSE:FCX)
Handelsbanken Fonder AB decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX[1] - Free Report[2]) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 603,398 shares of the natural resource company's stock after selling 71,595 shares during the period. Handelsbanken Fonder AB's holdings in Freeport-McMoRan were worth £22,977,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in FCX. Mountaineer Partners Management LLC lifted its stake in Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock valued at £595,702,000 after buying an additional 11,687,982 shares in the last quarter.
Assenagon Asset Management S.A. lifted its stake in Freeport-McMoRan by 142.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock valued at £162,964,000 after buying an additional 2,515,103 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Freeport-McMoRan by 9.5% in the third quarter.
Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company's stock worth £1,348,522,000 after purchasing an additional 2,366,187 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Freeport-McMoRan by 423.5% in the third quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company's stock worth £139,183,000 after purchasing an additional 2,255,529 shares in the last quarter.
Finally, Fisher Asset Management LLC lifted its position in shares of Freeport-McMoRan by 2.4% in the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company's stock worth £2,965,717,000 after purchasing an additional 1,392,494 shares in the last quarter. Institutional investors own 80.77% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock.
Jefferies Financial Group lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating and reduced their price target for the stock from £48.00 to £40.00 in a research report on Friday, January 24th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from £51.00 to £46.00 in a research report on Tuesday, January 7th.
Scotiabank reduced their price target on shares of Freeport-McMoRan from £48.00 to £45.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Finally, BMO Capital Markets dropped their price objective on Freeport-McMoRan from £54.00 to £50.00 and set an "outperform" rating on the stock in a report on Friday, January 24th.
Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus price target of £51.46. View Our Latest Research Report on FCX[3]
Freeport-McMoRan Stock Performance
Shares of Freeport-McMoRan stock[4] traded down £1.99 during midday trading on Friday, hitting £36.97.
The company had a trading volume of 16,145,380 shares, compared to its average volume of 14,443,232. The business's 50 day simple moving average is £38.53 and its two-hundred day simple moving average is £42.72. The stock has a market cap of £53.13 billion, a PE ratio of 28.66, a P/E/G ratio of 0.87 and a beta of 1.85.
The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 1-year low of £34.89 and a 1-year high of £55.24. Freeport-McMoRan (NYSE:FCX[5] - Get Free Report[6]) last announced its quarterly earnings data on Thursday, January 23rd.
The natural resource company reported £0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of £0.36 by (£0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. As a group, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.
Freeport-McMoRan Profile
(Free Report[7])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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References
- ^ NYSE:FCX (www.marketbeat.com)
- ^ Free Report (www.marketbeat.com)
- ^ View Our Latest Research Report on FCX (www.marketbeat.com)
- ^ Freeport-McMoRan stock (www.marketbeat.com)
- ^ NYSE:FCX (www.marketbeat.com)
- ^ Get Free Report (www.marketbeat.com)
- ^ Free Report (www.marketbeat.com)
- ^ five stocks (www.marketbeat.com)
- ^ View The Five Stocks Here (www.marketbeat.com)
- ^ Get This Free Report (marketbeat.com)