American National Insurance Co. TX held its position in Freeport-McMoran, Inc. (NYSE:FCX) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 13,500 shares of the natural resource company’s stock at the end of the second quarter. American National Insurance Co. TX’s holdings in Freeport-McMoran were worth $162,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Acrospire Investment Management LLC purchased a new position in shares of Freeport-McMoran during the first quarter valued at approximately $122,000. Fisher Asset Management LLC purchased a new position in shares of Freeport-McMoran during the second quarter valued at approximately $122,000. Advantage Investment Management LLC boosted its position in shares of Freeport-McMoran by 5.6% in the first quarter. Advantage Investment Management LLC now owns 9,402 shares of the natural resource company’s stock valued at $126,000 after buying an additional 500 shares in the last quarter. Atria Investments LLC bought a new stake in shares of Freeport-McMoran during the first quarter valued at about $134,000. Finally, Leavell Investment Management Inc. bought a new stake in shares of Freeport-McMoran during the first quarter valued at about $134,000. Hedge funds and other institutional investors own 69.94% of the company’s stock.
Shares of Freeport-McMoran, Inc. (NYSE FCX) traded down 0.35% during midday trading on Friday, reaching $14.15. 15,434,337 shares of the company’s stock were exchanged. Freeport-McMoran, Inc. has a one year low of $9.24 and a one year high of $17.06. The company’s 50-day moving average is $13.52 and its 200-day moving average is $13.05. The stock has a market cap of $20.48 billion, a P/E ratio of 19.96 and a beta of 2.59. Freeport-McMoran also was the recipient of unusually large options trading on Wednesday. Stock investors purchased 48,064 call options on the stock. This is an increase of 145% compared to the average daily volume of 19,644 call options.
Freeport-McMoran (NYSE:FCX) last released its quarterly 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. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Freeport-McMoran had a return on equity of 10.45% and a net margin of 5.97%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS. Equities analysts expect that Freeport-McMoran, Inc. will post $0.89 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on the stock. BMO Capital Markets set a $17.00 target price on shares of Freeport-McMoran and gave the company a “hold” rating in a research report on Wednesday, July 26th. Cowen and Company boosted their price objective on shares of Freeport-McMoran from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and issued a $18.00 price objective on shares of Freeport-McMoran in a report on Thursday, July 27th. FBR & Co restated a “market perform” rating and issued a $13.00 price objective (up from $12.00) on shares of Freeport-McMoran in a report on Thursday, July 27th. Finally, Zacks Investment Research raised shares of Freeport-McMoran from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $14.32.
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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