K.J. Harrison & Partners Inc cut its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 26.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,970 shares of the natural resource company's stock after selling 62,110 shares during the period. Freeport-McMoRan makes up 1.1% of K.J. Harrison & Partners Inc's holdings, making the stock its 23rd biggest holding. K.J. Harrison & Partners Inc's holdings in Freeport-McMoRan were worth $6,704,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of FCX. Sanctuary Advisors LLC increased its position in shares of Freeport-McMoRan by 9.7% during the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company's stock valued at $8,219,000 after acquiring an additional 14,501 shares during the last quarter. Easterly Investment Partners LLC increased its position in shares of Freeport-McMoRan by 137.5% during the third quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company's stock valued at $7,375,000 after acquiring an additional 85,542 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freeport-McMoRan during the third quarter valued at about $754,000. Summit Global Investments increased its position in shares of Freeport-McMoRan by 1,559.3% during the third quarter. Summit Global Investments now owns 76,493 shares of the natural resource company's stock valued at $3,819,000 after acquiring an additional 71,883 shares during the last quarter. Finally, AIA Group Ltd increased its position in shares of Freeport-McMoRan by 16.2% during the third quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company's stock valued at $4,604,000 after acquiring an additional 12,887 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.
Freeport-McMoRan Stock Down 1.3 %
Shares of NYSE:FCX traded down $0.51 during trading on Friday, hitting $36.92. 14,776,973 shares of the company were exchanged, compared to its average volume of 14,538,130. The firm's 50 day moving average price is $38.31 and its 200-day moving average price is $42.59. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24. The stock has a market capitalization of $53.05 billion, a P/E ratio of 28.62, a PEG 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 (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.
Analyst Ratings Changes
FCX has been the subject of a number of research reports. Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. BMO Capital Markets dropped their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Scotiabank dropped their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of "Moderate Buy" and an average target price of $52.04.
Read Our Latest Stock Report on FCX
About Freeport-McMoRan
(
Free Report)
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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