Freeport-McMoran, Inc. (NYSE:FCX) Shares Sold by Wedbush Securities Inc

Papua has faced a low-level insurgency since it was annexed by Indonesia in the late sixtiesMore

Papua has faced a low-level insurgency since it was annexed by Indonesia in the late sixtiesMore

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. The value in dollars decreased from $6,255,000 to $6,060,000 a change of $195,000 quarter over quarter. Freeport-McMoRan Inc. (NYSE:FCX)'s short interest is 31.4 million shares, or 2.35% of the float. Outfitter Advisors LTD. acquired a new position in Freeport-McMoran in the second quarter valued at approximately $121,000.

Wedbush Securities Inc. cut its holdings in Freeport-McMoran, Inc. Vanguard Group Inc. raised its position in shares of Freeport-McMoran by 4.9% during the second quarter. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that FCX is a Weak buy, which implies that FCX is expected to outperform the market based on prior trading patterns. 9,993,385 shares of the stock traded hands, compared to its average volume of 21,486,330.

Institutions own 69.85% of Freeport-McMoRan Inc. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.32 and a current ratio of 2.02. The firm has a market cap of $20,650.00, a price-to-earnings ratio of 15.84 and a beta of 2.55.

News headlines about Freeport-McMoran (NYSE:FCX) have trended somewhat positive on Tuesday, according to Accern Sentiment Analysis. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. Freeport-McMoran had a return on equity of 13.35% and a net margin of 6.20%. The company had revenue of $4.31 billion for 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 a year ago. As of the latest earnings report the EPS was $0.72 with 1.45B shares now outstanding.

TRADEMARK VIOLATION WARNING: This piece of content was originally published by Week Herald and is the sole property of of Week Herald.

A number of brokerages have recently issued reports on FCX. If you are accessing this piece of content on another site, it was stolen and republished in violation of worldwide copyright and trademark law. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. 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. Raymond James Financial, Inc. began coverage on Freeport-McMoran in a research report on Tuesday, August 15th.

Risk Paradigm Group, LLC says it bought 300 shares in quarter ending 09/30/2017 increasing its exposure to Freeport-Mcmoran Inc by 15.8%. FBR & Co released research on FCX and giving a rating of "Hold" and price target of $12.00. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock. The total value of its holdings increased 22.9%. Following the purchase, the chief operating officer now directly owns 73,943 shares of the company's stock, valued at $1,126,151.89.