The Pictet Asset Management Ltd. Has $9.14 Million Position in Freeport-McMoRan Inc (FCX)

The Pictet Asset Management Ltd. Has $9.14 Million Position in Freeport-McMoRan Inc (FCX)

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strid Group LLC acquired a new position in Freeport-McMoRan during the third quarter valued at $112,000. Advantage Investment Management LLC acquired a new position in Freeport-McMoRan during the fourth quarter valued at $117,000. Checchi Capital Advisers LLC raised its position in Freeport-McMoRan by 30.2% in the third quarter. Checchi Capital Advisers LLC now owns 10,897 shares of the natural resource company’s stock valued at $118,000 after buying an additional 2,525 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in Freeport-McMoRan by 6.4% in the third quarter. Johnson Investment Counsel Inc. now owns 10,882 shares of the natural resource company’s stock valued at $118,000 after buying an additional 657 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in Freeport-McMoRan during the fourth quarter valued at about $126,000. Hedge funds and other institutional investors own 66.80% of the company’s stock.

Pictet Asset Management Ltd. decreased its stake in Freeport-McMoRan Inc (NYSE:FCX) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 684,458 shares of the natural resource company’s stock after selling 37,620 shares during the period. Pictet Asset Management Ltd.’s holdings in Freeport-McMoRan were worth $9,144,000 as of its most recent SEC filing.

Freeport-McMoRan Inc (NYSE:FCX) opened at 11.29 on Monday. The firm has a market cap of $16.33 billion, a P/E ratio of 60.37 and a beta of 2.49. Freeport-McMoRan Inc has a 12 month low of $9.24 and a 12 month high of $17.06. The firm’s 50-day moving average price is $12.02 and its 200-day moving average price is $13.79.

FCX has been the topic of several recent research reports. Vetr raised Freeport-McMoRan from a “buy” rating to a “strong-buy” rating and set a $14.75 price target on the stock in a research note on Wednesday, April 12th. FBR & Co reissued a “hold” rating and issued a $13.00 price target on shares of Freeport-McMoRan in a research note on Wednesday, April 5th. Jefferies Group LLC lifted their price target on Freeport-McMoRan to $16.00 and gave the company a “buy” rating in a research note on Tuesday, March 28th. Citigroup Inc initiated coverage on Freeport-McMoRan in a research note on Tuesday, February 21st. They issued a “neutral” rating and a $16.00 price target on the stock. Finally, Deutsche Bank AG raised Freeport-McMoRan from a “sell” rating to a “hold” rating and lifted their price target for the company from $12.50 to $14.00 in a research note on Tuesday, March 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $13.76. About Freeport-McMoRan

Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “FCX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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