Freeport-McMoRan Inc (NYSE:FCX) Stake Trimmed by Tower Research Capital LLC TRC

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Tower Research Capital LLC TRC lessened its holdings in shares of Freeport-McMoRan Inc (NYSE:FCX) by 13.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,859 shares of the natural resource company’s stock after selling 1,569 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Freeport-McMoRan were worth $67,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FCX. Ancora Advisors LLC purchased a new position in Freeport-McMoRan during the 4th quarter valued at about $26,000. First PREMIER Bank purchased a new position in Freeport-McMoRan during the 1st quarter valued at about $30,000. Jacobi Capital Management LLC grew its stake in Freeport-McMoRan by 48.0% during the 1st quarter. Jacobi Capital Management LLC now owns 4,508 shares of the natural resource company’s stock valued at $30,000 after acquiring an additional 1,463 shares in the last quarter. TFG Advisers LLC purchased a new position in Freeport-McMoRan during the 4th quarter valued at about $31,000. Finally, FNY Investment Advisers LLC grew its stake in Freeport-McMoRan by 900.0% during the 1st quarter. FNY Investment Advisers LLC now owns 5,000 shares of the natural resource company’s stock valued at $33,000 after acquiring an additional 4,500 shares in the last quarter. 71.17% of the stock is currently owned by institutional investors.

FCX has been the topic of several research analyst reports. Zacks Investment Research raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Wednesday, June 24th. B. Riley lifted their price target on Freeport-McMoRan from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. TheStreet lowered Freeport-McMoRan from a “c” rating to a “d+” rating in a report on Friday, April 24th. Raymond James lifted their price target on Freeport-McMoRan from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Finally, Citigroup reduced their price target on Freeport-McMoRan from $14.00 to $12.00 and set a “buy” rating for the company in a report on Friday, March 27th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.97.

FCX opened at $11.57 on Wednesday. The business has a 50 day moving average price of $9.87 and a 200 day moving average price of $10.17. Freeport-McMoRan Inc has a twelve month low of $4.82 and a twelve month high of $13.64. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.11 and a current ratio of 2.34. The firm has a market cap of $16.03 billion, a P/E ratio of -24.10 and a beta of 2.24.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Friday, April 24th. The natural resource company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. Freeport-McMoRan had a negative return on equity of 1.55% and a negative net margin of 5.05%. The company had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the previous year, the company earned $0.05 earnings per share. The company’s quarterly revenue was down 26.2% compared to the same quarter last year. As a group, analysts anticipate that Freeport-McMoRan Inc will post 0.03 earnings per share for the current fiscal year.

Freeport-McMoRan Profile

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

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

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