Exchange Traded Concepts LLC Boosts Holdings in Freeport-McMoRan Inc. (NYSE:FCX)
Exchange Traded Concepts LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,914 shares of the natural resource company’s stock after acquiring an additional 1,010 shares during the quarter. Exchange […] Exchange Traded Concepts LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. Other large investors have also recently made changes to their positions in the company. Shares of FCX stock opened at $36.67 on Monday and have a 12 month low of $27.50. The company has a market cap of $52.57 billion, a PE ratio of 25.29 and a beta of 2.06. 77.96% of the stock is owned by hedge funds and other institutional investors, and the business recently declared a quarterly dividend. Stockholders of record on Friday, October 13th will be given a $0.15 dividend.
Veröffentlicht : vor 2 Jahren durch Defense World Staff in Finance
Exchange Traded Concepts LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX – Free Report) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,914 shares of the natural resource company’s stock after acquiring an additional 1,010 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Freeport-McMoRan were worth $317,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new position in shares of Freeport-McMoRan during the first quarter worth approximately $26,000. America First Investment Advisors LLC purchased a new position in shares of Freeport-McMoRan during the first quarter worth approximately $25,000. KB Financial Partners LLC purchased a new position in shares of Freeport-McMoRan during the first quarter worth approximately $26,000. ICA Group Wealth Management LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter worth approximately $28,000. Finally, Hanseatic Management Services Inc. purchased a new position in shares of Freeport-McMoRan during the first quarter worth approximately $37,000. 77.96% of the stock is owned by hedge funds and other institutional investors.
Shares of FCX stock opened at $36.67 on Monday. Freeport-McMoRan Inc. has a 12 month low of $27.50 and a 12 month high of $46.73. The stock has a market cap of $52.57 billion, a PE ratio of 25.29 and a beta of 2.06. The company has a current ratio of 2.94, a quick ratio of 1.72 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average price is $39.62 and its 200-day moving average price is $39.10.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, October 12th. Freeport-McMoRan’s dividend payout ratio is presently 20.69%.
Several research analysts have commented on FCX shares. Stifel Nicolaus decreased their price target on shares of Freeport-McMoRan from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. Raymond James lifted their target price on shares of Freeport-McMoRan from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. 1-800-FLOWERS.COM reaffirmed an “initiates” rating on shares of Freeport-McMoRan in a research note on Thursday, June 29th. Morgan Stanley lifted their target price on shares of Freeport-McMoRan from $38.50 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 21st. Finally, Sanford C. Bernstein started coverage on shares of Freeport-McMoRan in a research note on Thursday, June 29th. They issued a “market perform” rating and a $41.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.45.
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, as well as oil and gas. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino 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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