Highly Traded Stock: Freeport-McMoRan Inc. (NYSE:FCX)
- Author: Zachary Reyes Feb 14, 2017,
Feb 14, 2017, 19:58
The company has Beta Value of 2.58 and ATR value of 0.65. The high-yield debt issue has a 3.55% coupon and is set to mature on March 1, 2022. The debt is now trading at $95.00 and was trading at $93.44 last week. The 52-week low of the share price is at $4.65. Specifically, Director Jon C/ Madonna sold 14,000 shares of the firm's stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $16.61, for a total transaction of $232,540.00. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 111,848,555 shares of the stock are valued at $1.77 billion. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. While FCX lost $4.154 billion, or $2.96 per share, for all of 2016, it earned $508 million, or 40 cents per share, during the last half of the year, allowing it to sell some assets, fix its balance sheet and pay down debt. The highest and lowest price target given by the brokerage firms to the equity are $55 and $37, respectively. The disclosure for this sale can be found here. NBR's institutional ownership was registered as 97.90% while insider ownership was 1.50%.
FCX has been the subject of several recent research reports. Shares of Freeport-McMoRan Inc.'s (FCX) are trading -7.39% downward from the 52-week high mark and 239.78% above from the fifty two-week low mark. Price moves in a company's bonds in credit markets often predict parallel moves in its stock price. Deutsche Bank AG reiterated a "buy" rating and set a $12.50 price target on shares of Freeport-McMoran in a research note on Tuesday, October 18th. Analysts have a mean recommendation of 3.10 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). Freeport-McMoran presently has an average rating of "Hold" and a consensus price target of $12.96. The company earned $4.38 billion during the quarter, compared to analysts' expectations of $4.34 billion. The company has a 50 day moving average of $15.32 and a 200 day moving average of $12.85. (NYSE:FCX) is projected at 243.8 percent in the Current Quarter and 1350 percent in the Next Quarter, according to analysts. The company beat the analyst EPS Estimate with the difference of $-0.09. Freeport-McMoran had a negative net margin of 28.09% and a positive return on equity of 3.52%.
In case of Revenue Estimates, 9 analysts have provided their consensus Average Revenue Estimates for Freeport-McMoRan Inc.as 3.73 Billion. 16 analysts projected on average Earnings. The business's revenue for the quarter was up 24.5% on a year-over-year basis. The high end of the earnings forecast is $0.39 per share and low end is $-0.04 per share.
Several large investors have recently bought and sold shares of the company. RiverPoint Capital Management LLC bought a new position in shares of Freeport-McMoran during the third quarter valued at approximately $114,000. Finally, Northern Trust Corp increased its stake in shares of Freeport-McMoran by 2.3% in the third quarter. Finally, Checchi Capital Advisers LLC raised its position in shares of Freeport-McMoran by 30.2% in the third quarter. The third largest holder is Icahn Carl C, which now holds $1.64 billion worth of this stock and that ownership represents almost 7.76% of its market capitalization.
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Director, MATHER COURTNEY, purchased 150,000 common shares of Freeport-McMoRan Inc. FCXs operations are conducted through its subsidiaries, P.T. Freeport Indonesia (PT-FI), P.T. IRJA Eastern Minerals Corporation (Eastern Mining) and through Atlantic Copper, S.A.