Freeport-McMoRan Inc. (NYSE:FCX) recovered 22.03% of its value since hitting low of $9.47. The recent move of 1.23% gain helped the stock to close at $11.56 when trading ended on 7/26/2019. At a recent session, the prices were hovering between $11.26 and $11.585. This company shares are 18.17% off its target price of $13.66 and the current market capitalization stands at $16.77B. The recent change has given its price a 6.55% lead over SMA 50 and -30.45% deficit over its 52-week high. The stock witnessed 0.61% gains, -7.52% declines and 2.85% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found FCX’s volatility during a week at 3.69% and during a month it has been found around 3.02%.
What Does Freeport-McMoRan Inc. (FCX) Do?
The company describes itself in regulatory filings as, “Freeport-McMoRan, Inc. engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations. The North America Copper Mines segment operates open-pit copper mines in Morenci, Bagdad, Safford, Sierrita and Miami in Arizona; and Chino and Tyrone in New Mexico. The South America Mining segment includes Cerro Verde in Peru and El Abra in Chile. The Indonesia Mining segment handles the operations of Grasberg minerals district that produces copper concentrate that contains significant quantities of gold and silver. The Molybdenum Mines segment includes the Henderson underground mine and Climax open-pit mine, both in Colorado. The Rod and Refining segment consists of copper conversion facilities located in North America, and includes a refinery, rod mills, and a specialty copper products facility. The Atlantic Copper Smelting and Refining segment smelts and refines copper concentrate and markets refined copper and precious metals in slimes. The Corporate, Other, and Eliminations segment consists of other mining and eliminations, oil and gas operations, and other corporate and elimination items. The company was founded by James R. Moffett on November 10, 1987 and is headquartered in Phoenix, AZ.” [Text can be found here: https://www.marketwatch.com/investing/stock/FCX/profile under company description.]Freeport-McMoRan Inc. (FCX) Top Holders
Institutional investors currently hold around $12.21 billion or 75.6% in FCX stock. Look at its top three institutional owners: Vanguard Group Inc owns $1.77 billion in Freeport-McMoRan Inc., which represents roughly 10.58% of the company’s market cap and approximately 14.52% of the institutional ownership. Similar statistics are true for the second largest owner, Capital Research Global Investors, which owns 141,985,681 shares of the stock are valued at $1.64 billion. The third largest holder is Blackrock Inc., which currently holds $1.19 billion worth of this stock and that ownership represents nearly 7.09% of its market capitalization.Freeport-McMoRan Inc. 13F Filings
At the end of March reporting period, 310 institutional holders increased their position in Freeport-McMoRan Inc. (NYSE:FCX) by some 142,178,614 shares, 380 decreased positions by 119,999,814 and 136 held positions by 794,350,396. That puts total institutional holdings at 1,057,000,000 shares, according to SEC filings. The stock grabbed 76 new institutional investments totaling 7,735,611 shares while 86 institutional investors sold out their entire positions totaling 20,359,176 shares.Freeport-McMoRan Inc. (NYSE:FCX) Insider Trades
Multiple company employees have indulged in significant insider trading. Freeport-McMoRan Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Pres & COO FM Americas Conger Harry M. IV has sold 155,000 shares of Freeport-McMoRan Inc. (FCX) in the trading session dated Jun. 07, 2019. These shares are worth $1,629,050 and were traded at $10.51 each. The SEC filing shows that QUIRK KATHLEEN L performed a purchase of 50,000 shares. The EVP, CFO & Treasurer added these shares by way of transaction on Jun. 07, 2019. The company’s shares were assimilated at $10.49 per share worth to an investment of some $524,500 to the account of QUIRK KATHLEEN L.
Vice Chairman, President & CEO, ADKERSON RICHARD C, purchased 172,000 common shares of Freeport-McMoRan Inc. (FCX) in the open market. In a transaction dated Jun. 06, 2019, the shares were bought at an average price of $10.14, giving away a sum of $1,744,080. After this purchase, 3,203,146 common shares of FCX are directly owned by the insider, with total stake valued at $37,028,368.
In the transaction dated Feb. 12, 2019, a great number of shares sold came courtesy the VP & Controller Financial Rptg; WHITMIRE C DONALD JR disposed a total of 7,425 shares at an average price of $11.58, amounting to approximately $85,982. The insider now directly owns 69,891 shares worth $807,940.Freeport-McMoRan Inc. (FCX) Analyst Guide
Several analysts have released their opinion on Freeport-McMoRan Inc. (NYSE:FCX), with 3 analysts believing it is a strong buy. Whereas 13 of them predict the stock is a hold. Also, there are 4 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.5 average brokerage recommendation [T1].