Freeport-McMoran, Inc. (FCX) Holdings Lifted by Norinchukin Bank The

Norinchukin Bank The boosted its position in shares of Freeport-McMoran, Inc. (NYSE:FCX) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,371 shares of the natural resource company’s stock after buying an additional 5,962 shares during the quarter. Norinchukin Bank The’s holdings in Freeport-McMoran were worth $1,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its position in shares of Freeport-McMoran by 104.4% during the first quarter. FMR LLC now owns 42,399,057 shares of the natural resource company’s stock worth $566,451,000 after purchasing an additional 21,652,647 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Freeport-McMoran by 10.7% during the first quarter. Vanguard Group Inc. now owns 132,991,679 shares of the natural resource company’s stock worth $1,776,769,000 after purchasing an additional 12,897,514 shares during the last quarter. Westpac Banking Corp lifted its position in shares of Freeport-McMoran by 1,493.6% during the first quarter. Westpac Banking Corp now owns 7,038,887 shares of the natural resource company’s stock worth $102,454,000 after purchasing an additional 6,597,176 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Freeport-McMoran by 39.4% during the second quarter. Bank of New York Mellon Corp now owns 20,568,631 shares of the natural resource company’s stock worth $247,029,000 after purchasing an additional 5,810,712 shares during the last quarter. Finally, Capital Growth Management LP bought a new stake in shares of Freeport-McMoran during the first quarter worth $71,743,000. 67.94% of the stock is owned by institutional investors.

Shares of Freeport-McMoran, Inc. (NYSE FCX) opened at 13.88 on Monday. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 19.58 and a beta of 2.57. The stock’s 50 day moving average price is $14.59 and its 200-day moving average price is $12.97. Freeport-McMoran, Inc. has a 52 week low of $9.24 and a 52 week high of $17.06.

Freeport-McMoran (NYSE:FCX) last issued its earnings results on Tuesday, July 25th. The natural resource company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the business posted ($0.02) EPS. Freeport-McMoran’s revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that Freeport-McMoran, Inc. will post $0.94 earnings per share for the current fiscal year.

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In other Freeport-McMoran news, COO Harry M. Iv Conger bought 36,180 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were acquired at an average price of $15.23 per share, with a total value of $551,021.40. Following the transaction, the chief operating officer now owns 73,943 shares of the company’s stock, valued at $1,126,151.89. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.40% of the stock is currently owned by company insiders.

Several analysts have recently weighed in on the company. Jefferies Group LLC set a $18.00 target price on Freeport-McMoran and gave the stock a “buy” rating in a research report on Monday, August 28th. Vertical Research reiterated a “buy” rating and set a $20.00 target price on shares of Freeport-McMoran in a research report on Tuesday, August 29th. BidaskClub upgraded Freeport-McMoran from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Stifel Nicolaus set a $15.00 target price on Freeport-McMoran and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, Berenberg Bank reiterated a “sell” rating and set a $10.40 target price on shares of Freeport-McMoran in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.51.

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.

Institutional Ownership by Quarter for Freeport-McMoran (NYSE:FCX)

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