Published: Sun, January 14, 2018
Business | By Max Garcia

Freeport-McMoRan (NYSE:FCX) Earning Somewhat Positive News Coverage, Report Finds

The company has a market capitalization of $28,580.00, a PE ratio of 27.43 and a beta of 2.51. The institutional investor held 97,500 shares of the technology company at the end of 2017Q3, valued at $2.13 million, up from 82,000 at the end of the previous reported quarter. Icahn Carl C who had been investing in Freeport for a number of months, seems to be less bullish one the $28.82 billion market cap company. The stock increased 3.36% or $0.87 during the last trading session, reaching $26.77. About 14.19 million shares traded. Freeport-McMoRan Inc has a 52 week low of $11.05 and a 52 week high of $19.99. It has underperformed by 9.87% the S&P500.

Ruane Cunniff & Goldfarb Inc decreased Carmax Inc (KMX) stake by 5.16% reported in 2017Q3 SEC filing. This works out to a net decrease in ownership of 511416 shares, and suggests that institutions are feeling bearish about the stock. Sun Life Financial INC now owns 9,644 shares of the natural resource company's stock valued at $116,000 after acquiring an additional 9,634 shares during the last quarter. The stock stands almost $0.35 off versus the 52-week high of $19.99 and $8.59 above the 52-week low of $11.05. (FCX)'s shares. The total value of these holdings, in millions, is $18,658. Microchip Technology Incorporated (NASDAQ:MCHP) has risen 68.30% since January 14, 2017 and is uptrending. It has outperformed by 25.04% the S&P500.

Since August 21, 2017, it had 0 insider buys, and 1 sale for $15,435 activity. Omers Administration owns 1.34% invested in General Electric Company (NYSE:GE) for 4.85 million shares. Its the same as in 2017Q2. The company has volume of 18.85 Million shares. BP PLC raised its position in Freeport-McMoran by 106.3% in the fourth quarter. Stoneridge Invest Prtnrs Ltd Liability Co reported 0.61% stake. Fred Alger has invested 0% in Freeport-McMoRan Inc. Susquehanna Gru Llp reported 23,161 shares or 0% of all its holdings. It increased, as 17 investors sold JONE shares while 20 reduced holdings.

A number of institutional investors have recently modified their holdings of FCX. Amundi Pioneer Asset Management Incorporated has invested 0.09% in Freeport-McMoRan Inc. Moreover, Systematic Mgmt Ltd Partnership has 0.13% invested in Freeport-McMoRan Inc. (NYSE:FCX) for 71,031 shares. Horizon Kinetics Ltd Com holds 0.05% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX) for 104,400 shares. Northwest Invest Counselors Lc reported 0% in Freeport-McMoRan Inc.

Shares of Freeport-McMoRan (NYSE FCX) traded down $0.13 during mid-day trading on Friday, reaching $19.75.

Freeport-McMoran (NYSE:FCX) last posted its earnings results on Wednesday, January 25th. Therefore 22% are positive. Jones Energy Inc had 34 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned "Buy" rating on Friday, September 11 by Gabelli. Cowen & Co maintained Freeport-McMoRan Inc. (NYSE:FCX) has "Sell" rating given on Tuesday, April 19 by CLSA. (NYSE:FCX) earned "Mkt Perform" rating by FBR Capital on Monday, May 1. The company was downgraded on Tuesday, January 12 by Jefferies. On Monday, January 8 the stock rating was maintained by Scotia Capital with "Hold". As per Thursday, September 7, the company rating was initiated by Macquarie Research. Finally, B. Riley reiterated a "neutral" rating on shares of Freeport-McMoRan in a research note on Wednesday, November 1st. The rating was maintained by Wedbush with "Neutral" on Tuesday, January 19. The company was maintained on Monday, November 21 by Cowen & Co. As per Monday, August 22, the company rating was maintained by BMO Capital Markets.

Analysts await Lowe's Companies, Inc.

FCX has been the topic of several analyst reports. During the same period in the previous year, the company earned $0.13 earnings per share. FCX's profit will be $622.47M for 11.48 P/E if the $0.43 EPS becomes a reality. Natl Planning has invested 0.08% of its portfolio in Freeport-McMoRan Inc. Another trade for 2,098 shares valued at $163,675 was sold by Ramsay Paul D. 44,777 shares were sold by Jurvetson Stephen T, worth $15.24 million on Tuesday, August 22. The insider Cafritz Diane L sold $419,370. Bjornholt James Eric had sold 2,453 shares worth $200,876. Five research analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Therefore 36% are positive. Microchip Technology had 59 analyst reports since August 5, 2015 according to SRatingsIntel. Deutsche Bank downgraded the shares of FCX in report on Tuesday, February 21 to "Sell" rating. The stock has "Sell" rating by Berenberg on Wednesday, July 12. Morgan Stanley upgraded Freeport-McMoRan from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $10.00 to $14.00 in a report on Monday, December 11th. The stock has "Neutral" rating by PiperJaffray on Monday, October 31. They issued a "sector outperform" rating and a $18.00 target price on the stock. The firm has "Overweight" rating given on Tuesday, August 4 by JP Morgan. The rating was downgraded by Zacks on Thursday, August 20 to "Hold". On Wednesday, August 5 the stock rating was maintained by Jefferies with "Buy".

Investors sentiment is 1 in Q3 2017. Its down 0.10, from 0.79 in 2017Q2. Bamco Inc New York has 0% invested in Jones Energy, Inc. 23 funds opened positions while 41 raised stakes.

The counter witnessed a trading volume of 1.13 million shares versus an average volume of 1.23 million shares during last trading session. Horizon Kinetics Limited Liability holds 0.05% or 128,130 shares. Riverhead Capital Mgmt Lc reported 0.13% stake. Boston Private Wealth Limited Liability Co, a Massachusetts-based fund reported 125,920 shares. Prtn Ltd has invested 0.19% of its portfolio in Stratasys Ltd. (NASDAQ:SSYS). First Manhattan holds 2,400 shares. Credit Suisse Ag reported 0.22% of its portfolio in Tesla, Inc. 112,908 are held by Retirement Of Alabama. Northwestern Mutual Wealth Mgmt has invested 0% of its portfolio in Stratasys Ltd. (NASDAQ:SSYS). Pekin Singer Strauss Asset Il reported 15,750 shares stake. Jackson Wealth Mngmt Ltd Llc has invested 0.08% in General Electric Company (NYSE:GE). Cap Advsr Ok, a Oklahoma-based fund reported 443,865 shares.

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