Freeport-McMoRan (FCX:NYE), a natural resource company, had its stake reduced by 4.2% by Ziegler Capital Management LLC during the fourth quarter, according to a recently filed Form 13F with the Securities & Exchange Commission. Ziegler Capital Management LLC owned 109,798 shares of FCX stock after selling 4,826 shares, with a value of $4,172,000.
Other hedge funds also recently added to or reduced their stakes in the company. Freeport-McMoRan’s stock opened at $41.20 on Tuesday, with a one-year high of $51.78 and a one-year low of $24.80.
In other news, CAO Ellie L. Mikes sold 11,678 shares of the company’s stock, and several equities research analysts have recently weighed in on the company. The company announced a dividend and is expected to post 2.05 earnings per share for the current fiscal year.
FCX Stock Forecast:
Based on the FCX stock forecast from 19 analysts, the average analyst target price for Freeport-McMoran Copper & Gold Inc is USD 40.88 over the next 12 months. Freeport-McMoran Copper & Gold Inc’s average analyst rating is Hold .
Stock Target Advisor’s own stock analysis of FCX stock is Slightly Bullish , which is based on 9 positive signals and 5 negative signals. At the last closing,FCX stock price was USD 41.20. Freeport-McMoran Copper & Gold Inc’s stock price has changed by +8.48% over the past week, -5.79% over the past month and -19.15% over the last year.
Company Profile:
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas.
The company’s 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 in Peru and El Abra in Chile.
It also operates a portfolio of oil and gas properties primarily located in offshore California and the Gulf of Mexico. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was incorporated in 1987 and is headquartered in Phoenix, Arizona.
