Eqis Capital Management Inc. Has $158,000 Position in Freeport-McMoRan Inc (FCX)

Eqis Capital Management Inc. raised its position in shares of Freeport-McMoRan Inc (NYSE:FCX) by 5.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 13,144 shares of the natural resource company’s stock after buying an additional 731 shares during the period. Eqis Capital Management Inc.’s holdings in Freeport-McMoRan were worth $158,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. boosted its stake in Freeport-McMoRan by 548.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 223,671 shares of the natural resource company’s stock worth $2,686,000 after buying an additional 189,172 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in Freeport-McMoRan by 0.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,882,809 shares of the natural resource company’s stock worth $22,613,000 after buying an additional 15,837 shares during the period. National Pension Service boosted its stake in Freeport-McMoRan by 9.9% in the second quarter. National Pension Service now owns 1,226,341 shares of the natural resource company’s stock worth $14,814,000 after buying an additional 110,503 shares during the period. State of Alaska Department of Revenue boosted its stake in Freeport-McMoRan by 81.7% in the second quarter. State of Alaska Department of Revenue now owns 30,226 shares of the natural resource company’s stock worth $363,000 after buying an additional 13,590 shares during the period. Finally, Fisher Asset Management LLC bought a new position in Freeport-McMoRan during the second quarter worth approximately $122,000. 69.45% of the stock is currently owned by institutional investors.

Shares of Freeport-McMoRan Inc (FCX) opened at 13.96 on Friday. The company has a market cap of $20.20 billion, a PE ratio of 19.69 and a beta of 2.59. The company has a 50-day moving average of $13.24 and a 200-day moving average of $13.11. Freeport-McMoRan Inc has a 1-year low of $9.24 and a 1-year high of $17.06.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by $0.04. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Freeport-McMoRan had a net margin of 8.81% and a return on equity of 15.87%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the company posted ($0.02) EPS. Equities analysts forecast that Freeport-McMoRan Inc will post $0.87 EPS for the current year.

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FCX has been the topic of a number of research analyst reports. Berenberg Bank set a $10.00 price objective on shares of Freeport-McMoRan and gave the company a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research lowered shares of Freeport-McMoRan from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Vetr upgraded shares of Freeport-McMoRan from a “buy” rating to a “strong-buy” rating and set a $14.36 price target on the stock in a research report on Monday, May 1st. Jefferies Group LLC decreased their price target on shares of Freeport-McMoRan from $16.00 to $14.50 and set a “buy” rating on the stock in a research report on Thursday, June 8th. Finally, FBR & Co decreased their price target on shares of Freeport-McMoRan from $13.00 to $12.00 and set a “mkt perform” rating on the stock in a research report on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Freeport-McMoRan has a consensus rating of “Hold” and an average price target of $14.27.

About Freeport-McMoRan

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.