Steady Activities: Facebook, Inc. (FB), Freeport-McMoRan Inc. (FCX)

Cornelia Mascio
Dicembre 7, 2017

(FCX) worth $1.23 billion at the end of the most recent reporting period. The firm owned 141,035,479 shares of the company's stock after buying an additional 1,532,960 shares during the period. Moreover, Penn Davis Mcfarland Inc has 2.84% invested in the company for 444,428 shares. BlueMountain Capital Management LLC raised its stake in Freeport-McMoran by 100.4% during the 2nd 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 period. Vanguard Group Inc. raised its stake in Freeport-McMoran by 4.9% during the 2nd quarter. Alpha One ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Bank of New York Mellon Corp grew its stake in shares of Freeport-McMoran by 39.4% during the 2nd quarter. The stock has a market cap of $20,425.49, a P/E ratio of 15.51 and a beta of 2.56. Finally, Contrarius Investment Management Ltd raised its stake in shares of Freeport-McMoran by 700.5% during the second quarter. Guardian Capital Advisors LP now owns 34,254 shares of the natural resource company's stock valued at $427,000 after buying an additional 400 shares during the period.

Several institutional investors and hedge funds have recently modified their holdings of FCX.

Several equities analysts recently issued reports on FCX shares. Vertical Research reaffirmed a "buy" rating and set a $20.00 price objective on shares of Freeport-McMoran in a research note on Tuesday, August 29th.

When we look at the Analyst Recommendations of the stock, the company has 2.89 rating given by Analysts where 1 stands for Strong Buy and 5 stands for Strong Sell. ValuEngine raised Freeport-McMoran from a "hold" rating to a "buy" rating in a research report on Thursday, August 31st. Royal Bank of Canada restated a "hold" rating and set a $17.00 price target on shares of Freeport-McMoRan in a research note on Wednesday, April 19th. Freeport-McMoran now has a consensus rating of "Hold" and an average target price of $15.57. The 52-Week High range of the stock is $184.25, while the 52-week low range is $114.77. (FCX) opened at $14.21 on Wednesday. Freeport-McMoRan Inc. (NYSE:FCX)'s short interest is 0 shares. The stock's traded 22.66 million shares in session while it holds an average volume of 16.4 million shares.

Freeport-McMoRan Inc.'s Average Earnings Estimate for the current quarter is $0.45, according to consensus of 19 analysts. According to the Analysts, the Low Earnings estimate for the current quarter is $1.6, while the High earnings estimate is $2.1.Comparatively, EPS for the same quarter previous year was $1.64. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.06 billion.

Net profit margin of the company is seen at 6.30%. The business's revenue for the quarter was up 11.2% compared to the same quarter a year ago. The company's revenue for the quarter was up 11.2% on a year-over-year basis. sell-side analysts anticipate that Freeport-McMoran will post 1.07 earnings per share for the current year.

In other Freeport-McMoran news, COO Harry M. Iv Conger bought 36,180 shares of the stock in a transaction dated Thursday, September 7th. The shares were bought at an average price of $15.23 per share, for a total transaction of $551,021.40. Following the acquisition, 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 legal filing with the SEC, which can be accessed through the SEC website. IHT Wealth Management LLC lifted its holdings in Freeport-McMoran by 27.1% in the second quarter. (NYSE:FCX) have caught the attention of investors. If you are viewing this piece on another domain, it was stolen and reposted in violation of worldwide trademark & copyright laws. The correct version of this report can be viewed at https://www.thelincolnianonline.com/2017/12/06/freeport-mcmoran-inc-fcx-stake-lifted-by-convergence-investment-partners-llc.html.

Moreover, Mirae Asset Global Company has 0.01% invested in Freeport-McMoRan Inc. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. It primarily explores for copper concentrate, copper cathode, copper rod, gold, molybdenum, silver, and other metals, as well as gas and oil. (NYSE:FCX). Farmers Merchants Investments holds 3,091 shares or 0% of its portfolio.

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