Systematic Financial Management LP decreased its position in Freeport-McMoran, Inc. (NYSE:FCX) by 56.6% during the fourth quarter, Holdings Channel reports. The fund owned 817,432 shares of the natural resource company’s stock after selling 1,064,819 shares during the period. Systematic Financial Management LP’s holdings in Freeport-McMoran were worth $10,782,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of FCX. Pinnacle Associates Ltd. increased its position in shares of Freeport-McMoran by 0.9% in the fourth quarter. Pinnacle Associates Ltd. now owns 529,553 shares of the natural resource company’s stock worth $6,985,000 after buying an additional 4,850 shares during the last quarter. FMR LLC increased its position in shares of Freeport-McMoran by 33.2% in the fourth quarter. FMR LLC now owns 20,746,410 shares of the natural resource company’s stock worth $273,644,000 after buying an additional 5,171,930 shares during the last quarter. TCW Group Inc. increased its position in shares of Freeport-McMoran by 4,871.8% in the fourth quarter. TCW Group Inc. now owns 4,489,511 shares of the natural resource company’s stock worth $59,217,000 after buying an additional 4,399,211 shares during the last quarter. Investec Asset Management LTD bought a new position in shares of Freeport-McMoran during the fourth quarter worth approximately $5,595,000. Finally, Baird Financial Group Inc. increased its position in shares of Freeport-McMoran by 5.4% in the fourth quarter. Baird Financial Group Inc. now owns 82,396 shares of the natural resource company’s stock worth $1,087,000 after buying an additional 4,230 shares during the last quarter. Hedge funds and other institutional investors own 66.80% of the company’s stock.

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

Shares of Freeport-McMoran, Inc. (NYSE:FCX) traded down 1.33% on Friday, reaching $14.87. The company had a trading volume of 14,245,165 shares. The firm’s market cap is $21.41 billion. Freeport-McMoran, Inc. has a one year low of $6.55 and a one year high of $17.06. The company has a 50-day moving average price of $15.49 and a 200-day moving average price of $12.92.

Freeport-McMoran (NYSE:FCX) last announced its quarterly earnings data on Wednesday, January 25th. The natural resource company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.08. Freeport-McMoran had a positive return on equity of 3.52% and a negative net margin of 28.09%. The firm earned $4.38 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the prior year, the business posted ($0.02) EPS. Freeport-McMoran’s revenue was up 24.5% compared to the same quarter last year. On average, analysts expect that Freeport-McMoran, Inc. will post $1.10 earnings per share for the current fiscal year.

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A number of research analysts recently commented on the company. J P Morgan Chase & Co assumed coverage on Freeport-McMoran in a research note on Thursday, February 9th. They set a “neutral” rating and a $14.00 price objective for the company. Deutsche Bank AG restated a “hold” rating and set a $14.00 price objective on shares of Freeport-McMoran in a research note on Tuesday, February 7th. FBR & Co upped their price objective on Freeport-McMoran from $12.00 to $13.00 and gave the stock a “mkt perform” rating in a research note on Friday, February 3rd. Vetr upgraded Freeport-McMoran from a “buy” rating to a “strong-buy” rating and set a $19.31 price objective for the company in a research note on Wednesday, February 1st. Finally, Zacks Investment Research downgraded Freeport-McMoran from a “buy” rating to a “hold” rating in a research note on Monday, January 30th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Freeport-McMoran presently has an average rating of “Hold” and a consensus price target of $12.96.

In other Freeport-McMoran news, Director Jon C/ Madonna sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $16.61, for a total value of $232,540.00. Following the completion of the sale, the director now owns 61,080 shares in the company, valued at approximately $1,014,538.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C Donald Whitmire, Jr. sold 57,620 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $15.42, for a total value of $888,500.40. Following the completion of the sale, the vice president now owns 64,896 shares of the company’s stock, valued at approximately $1,000,696.32. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

About Freeport-McMoran

Freeport-McMoRan Inc (FCX) is a natural resource company with a portfolio of mineral assets, and oil and natural gas resources. The Company’s segments include the Morenci, Cerro Verde, Grasberg and Tenke Fungurume copper mines, the Rod & Refining operations and the U.S. Oil & Gas Operations. It has organized its operations into five primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining and Molybdenum mines.

5 Day Chart for NYSE:FCX

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