December 11, 2017

Freeport-McMoran, Inc. (FCX) Position Boosted by State Street Corp

12 October 2017, 11:59 | Melvin Schneider

Bank of New York Mellon Corp now owns 14,757,919 shares of the natural resource company's stock valued at $197,166,000 after buying an additional 4,662,665 shares in the last quarter.

Shares of Freeport-McMoRan Inc (NYSE:FCX) traded up 3.90% during mid-day trading on Friday, reaching $11.73. Two analysts have rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Therefore 26% are positive. As per Monday, July 17, the company rating was maintained by Cowen & Co. Macquarie Research maintained the shares of FCX in report on Saturday, August 15 with "Outperform" rating. The rating was maintained by BMO Capital Markets with "Hold" on Tuesday, June 27. The sales growth rate helps investors determine how strong the overall growth-orientation is for a stock or portfolio. The firm has "Hold" rating given on Tuesday, September 1 by S&P Research. The company was maintained on Friday, July 21 by Berenberg. The rating was downgraded by Deutsche Bank to "Hold" on Monday, October 5. (NYSE:HON) stake by 2,643 shares and now owns 19,469 shares. Trinity Inds Inc (NYSE:TRN) was reduced too. The consensus rating is 1.9, indicating analysts in general look favorably on the company's future prospects. Therefore 31% are positive. T-Mobile US had 55 analyst reports since August 3, 2015 according to SRatingsIntel. The firm has "Neutral" rating given on Thursday, July 13 by Bank of America. On Tuesday, February 23 the stock rating was downgraded by Citigroup to "Sell".

Among 23 analysts covering Freeport-McMoran Copper & Gold (NYSE:FCX), 6 have Buy rating, 5 Sell and 12 Hold. On August 15, 2017 Raymond James initiated coverage on FCX with an initial rating of "Market Perform". The count of Hold ratings in that period was 14. The rating was upgraded by Piper Jaffray on Tuesday, April 11 to "Neutral". The stock has "Buy" rating by Jefferies on Tuesday, May 17.

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Investors sentiment increased to 0.88 in Q2 2017. Its down 0.15, from 1.15 in 2017Q1. 123 funds opened positions while 686 raised stakes. The natural resource company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.21 by ($0.04). (NYSE:FCX) are -0.14%; 0.56% for the month; 13.83% for the last quarter; 5.92% for the past six-months; and 41.36% for the last 12 months. FCX's SI was 34.03 million shares in October as released by FINRA. (NYSE:T) to report earnings on October, 24 after the close. Norinchukin National Bank The, Japan-based fund reported 177,611 shares. Scotia Capital has invested 0.38% in AT&T Inc. Etrade Limited Com accumulated 38,643 shares or 0.02% of the stock. Keefe Bruyette & Woods upgraded the shares of WFC in report on Wednesday, April 5 to "Outperform" rating. The Fort Point Capital Partners Llc holds 6,546 shares with $247,000 value, down from 33,938 last quarter. About 9.66M shares traded. Pacific Heights Asset Management Llc, a California-based fund reported 4.08 million shares.#img1#. Birinyi Incorporated stated it has 25,000 shares or 0.14% of all its holdings. Wells Fargo & Company now has $275.50 billion valuation. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. Now has a PEG ratio of - where as its P/E ratio is 0. The Company's divisions include refined copper products, copper in concentrate, gold, molybdenum, oil and other.

Investors sentiment decreased to 1 in Q2 2017. Its up 0.12, from 0.76 in 2017Q1. With 21.73M shares average volume, it will take short sellers 2 days to cover their FCX's short positions. LLC raised its position in Freeport-McMoran by 8.7% during the 2nd quarter. Cetera Limited Liability Corporation accumulated 0.08% or 108,830 shares. Cornerstone Advsrs Inc invested in 1.16% or 113,800 shares. Institutional investors own 67.95% of the company's stock. Impala Asset Mngmt Limited Liability Co holds 2.96% or 4.87 million shares in its portfolio. Moreover, Cornerstone Advsr has 0.01% invested in Freeport-McMoRan Inc (NYSE:FCX) for 1,334 shares. Lpl Ltd Llc holds 0.01% in Freeport-McMoRan Inc (NYSE:FCX) or 257,831 shares. Golub Group Ltd Liability Company holds 362,737 shares or 1.91% of its portfolio. Utd Automobile Association reported 458,065 shares.

In a report announced on 6/8/2017 Jefferies & Co bumped down the target of Freeport-McMoran Copper & Gold (NYSE:FCX) from $16.00 to $14.50 indicating a possible upside of 0.20%. Brown Advisory reported 16,377 shares.

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