Thrivent Financial For Lutherans raised its stake in Freeport-McMoRan Inc (NYSE:FCX) by 308.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,456 shares of the natural resource company’s stock after acquiring an additional 168,005 shares during the period. Thrivent Financial For Lutherans’ holdings in Freeport-McMoRan were worth $4,218,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in Freeport-McMoRan by 10.8% in the third quarter. Ameriprise Financial Inc. now owns 2,761,342 shares of the natural resource company’s stock valued at $38,769,000 after acquiring an additional 270,171 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Freeport-McMoRan by 114.3% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,667,157 shares of the natural resource company’s stock valued at $23,407,000 after acquiring an additional 889,048 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Freeport-McMoRan by 4.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 217,817 shares of the natural resource company’s stock valued at $3,058,000 after acquiring an additional 9,250 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Freeport-McMoRan during the third quarter worth approximately $837,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Freeport-McMoRan by 5.5% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 159,535 shares of the natural resource company’s stock worth $2,245,000 after buying an additional 8,321 shares during the period. Institutional investors own 69.84% of the company’s stock.
Several equities analysts have recently issued reports on the company. TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a research report on Thursday, January 25th. Royal Bank of Canada boosted their price objective on Freeport-McMoRan to $22.00 and gave the stock a “sector perform” rating in a research report on Monday, March 12th. UBS boosted their price objective on Freeport-McMoRan from $14.00 to $18.50 and gave the stock a “neutral” rating in a research report on Tuesday, March 6th. Stifel Nicolaus boosted their price objective on Freeport-McMoRan from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, February 6th. Finally, ValuEngine upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $16.75.
Shares of Freeport-McMoRan Inc (NYSE:FCX) opened at $18.36 on Friday. Freeport-McMoRan Inc has a twelve month low of $11.05 and a twelve month high of $20.25. The company has a market capitalization of $26,654.81, a P/E ratio of 15.73 and a beta of 2.42. The company has a current ratio of 2.14, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04.
Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 25th. The natural resource company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company earned $0.25 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. analysts expect that Freeport-McMoRan Inc will post 2.31 EPS for the current year.
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Freeport-McMoRan Company 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.
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