Paradigm Financial Advisors LLC decreased its position in Freeport-McMoRan Inc (NYSE:FCX) by 9.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,261 shares of the natural resource company’s stock after selling 3,310 shares during the period. Paradigm Financial Advisors LLC’s holdings in Freeport-McMoRan were worth $522,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Penserra Capital Management LLC raised its holdings in Freeport-McMoRan by 281.1% in the 1st quarter. Penserra Capital Management LLC now owns 6,319 shares of the natural resource company’s stock valued at $100,000 after acquiring an additional 4,661 shares during the period. Princeton Capital Management LLC acquired a new position in shares of Freeport-McMoRan during the 1st quarter worth approximately $101,000. Advisors Preferred LLC acquired a new stake in shares of Freeport-McMoRan during the 1st quarter worth approximately $105,000. Signaturefd LLC acquired a new stake in shares of Freeport-McMoRan during the 1st quarter worth approximately $147,000. Finally, St. Johns Investment Management Company LLC boosted its position in shares of Freeport-McMoRan by 243.2% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 8,665 shares of the natural resource company’s stock worth $150,000 after acquiring an additional 6,140 shares in the last quarter. 71.79% of the stock is owned by institutional investors.

Freeport-McMoRan stock traded up $0.11 during midday trading on Friday, hitting $13.69. 13,718,670 shares of the stock were exchanged, compared to its average volume of 15,209,022. Freeport-McMoRan Inc has a 52-week low of $12.18 and a 52-week high of $20.25. The stock has a market cap of $19.75 billion, a PE ratio of 7.21 and a beta of 2.50. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.62 and a current ratio of 2.72.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Wednesday, July 25th. The natural resource company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.97 billion. Freeport-McMoRan had a net margin of 14.87% and a return on equity of 24.01%. The company’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 earnings per share. analysts predict that Freeport-McMoRan Inc will post 1.92 EPS for the current fiscal year.

Several analysts recently issued reports on FCX shares. Berenberg Bank reiterated a “sell” rating and set a $15.00 price target on shares of Freeport-McMoRan in a research report on Wednesday, May 23rd. B. Riley upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and raised their target price for the company from $17.00 to $20.00 in a research report on Wednesday, May 23rd. Alembic Global Advisors raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 23rd. Zacks Investment Research downgraded shares of Freeport-McMoRan from a “hold” rating to a “strong sell” rating in a research note on Monday, May 28th. Finally, Morgan Stanley lifted their target price on shares of Freeport-McMoRan from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Friday, June 29th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $17.81.

About Freeport-McMoRan

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.

Further Reading: Moving Average (MA)

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

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