Freeport-McMoRan Inc (FCX) is Kessler Investment Group LLC’s 2nd Largest Position

Kessler Investment Group LLC decreased its stake in Freeport-McMoRan Inc (NYSE:FCX) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 333,075 shares of the natural resource company’s stock after selling 20,763 shares during the quarter. Freeport-McMoRan accounts for about 7.9% of Kessler Investment Group LLC’s portfolio, making the stock its 2nd largest position. Kessler Investment Group LLC’s holdings in Freeport-McMoRan were worth $6,315,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FCX. Sun Life Financial INC lifted its stake in Freeport-McMoRan by 96,340.0% in the second quarter. Sun Life Financial INC now owns 9,644 shares of the natural resource company’s stock valued at $116,000 after buying an additional 9,634 shares during the period. Schroder Investment Management Group raised its position in shares of Freeport-McMoRan by 2,015.5% during the second quarter. Schroder Investment Management Group now owns 11,487 shares of the natural resource company’s stock worth $139,000 after purchasing an additional 10,944 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Freeport-McMoRan during the third quarter worth about $140,000. Abbot Financial Management Inc. acquired a new stake in shares of Freeport-McMoRan during the second quarter worth about $142,000. Finally, Rothschild Investment Corp IL acquired a new stake in shares of Freeport-McMoRan during the third quarter worth about $147,000. 68.07% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Inc (NYSE FCX) traded up $0.59 during trading hours on Thursday, hitting $19.51. The company had a trading volume of 28,034,701 shares, compared to its average volume of 21,697,801. 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 company has a market capitalization of $28,640.00, a P/E ratio of 27.10 and a beta of 2.51. Freeport-McMoRan Inc has a fifty-two week low of $11.05 and a fifty-two week high of $19.99.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Wednesday, October 25th. The natural resource company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.03. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.06 billion. Freeport-McMoRan had a return on equity of 13.35% and a net margin of 6.20%. Freeport-McMoRan’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the company earned $0.13 earnings per share. research analysts anticipate that Freeport-McMoRan Inc will post 1.09 EPS for the current year.

FCX has been the topic of a number of research analyst reports. FBR & Co reaffirmed a “neutral” rating and set a $12.00 price target (down previously from $13.00) on shares of Freeport-McMoRan in a research report on Thursday, September 14th. CIBC initiated coverage on Freeport-McMoRan in a research report on Friday, September 15th. They set a “sector outperform” rating and a $18.00 price target on the stock. Jefferies Group reaffirmed a “buy” rating and set a $19.00 price target (down previously from $23.00) on shares of Freeport-McMoRan in a research report on Wednesday, October 4th. Zacks Investment Research raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, October 10th. Finally, Royal Bank of Canada set a $14.00 price target on Freeport-McMoRan and gave the stock a “hold” rating in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Freeport-McMoRan currently has a consensus rating of “Hold” and an average price target of $15.80.

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Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.

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

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