The value of the investment in Freeport-Mcmoran Inc went from $5,503,000 to $5,632,000 a change of 2.3% since the last quarter. (NYSE:FCX) by 38.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission.
Here are a few institutional investors who have updated their positions. Wedbush Securities Inc.'s holdings in Freeport-McMoran were worth $601,000 at the end of the most recent reporting period. This represents a decrease of -7% in the number of shares being shorted compared to the previous reading, and implies that investors felt less pessimistic about the stock during the past two weeks. IHT Wealth Management LLC boosted its holdings in shares of Freeport-McMoran by 27.1% during the 2nd quarter. BlueMountain Capital Management LLC now owns 26,461 shares of the natural resource company's stock valued at $318,000 after purchasing an additional 6,651,458 shares in the last quarter. Contrarius Investment Management Ltd now owns 3,543,051 shares of the natural resource company's stock worth $42,552,000 after acquiring an additional 3,100,466 shares during the last quarter.
In other news, COO Harry M. Iv Conger bought 36,180 shares of Freeport-McMoran stock in a transaction on Thursday, September 7th. Finally, Contrarius Investment Management Ltd raised its position in shares of Freeport-McMoran by 700.5% during the second quarter. Freeport-McMoran has a 1-year low of $11.05 and a 1-year high of $17.06. (NYSE FCX) traded down $0.75 on Tuesday, hitting $13.68. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32. Freeport-Mcmoran Inc's P/E ratio is 19.88 and market cap is 20.86B. The natural resource company reported $0.34 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.31 by $0.03. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.06 billion. The company's revenue for the quarter was up 11.2% compared to the same quarter past year.
The company is so far trading down by 5.44% percent from yesterday's close. The company's quarterly revenue was up 11.2% on a year-over-year basis. equities research analysts expect that Freeport-McMoran will post 1.07 earnings per share for the current year.
A number of brokerages have issued reports on FCX. Zacks Investment Research downgraded Freeport-McMoran from a "buy" rating to a "hold" rating in a report on Monday. Raymond James Financial, Inc. began coverage on Freeport-McMoran in a research report on Tuesday, August 15th. FBR & Co reaffirmed a "market perform" rating and set a $13.00 price objective (up previously from $12.00) on shares of Freeport-McMoran in a research report on Thursday, July 27th. Finally, Jefferies Group LLC reaffirmed a "buy" rating and set a $18.00 price target on shares of Freeport-McMoran in a research note on Thursday, July 27th. FBR & Co released research on FCX and giving a rating of "Hold" and price target of $12.00. (FCX)'s shares. The total value of these holdings, in millions, is $14,570. Following the purchase, the chief operating officer now directly owns 73,943 shares of the company's stock, valued at approximately $1,126,151.89. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.