Freeport (FCX) Stock Declined While Group One Trading LP Upped Its Holding

April 20, 2018 - By Ellis Scott

Freeport-McMoRan Inc. (NYSE:FCX) LogoInvestors sentiment decreased to 0.92 in Q4 2017. Its down 0.08, from 1 in 2017Q3. It worsened, as 77 investors sold FCX shares while 205 reduced holdings. 78 funds opened positions while 182 raised stakes. 989.88 million shares or 2.99% more from 961.13 million shares in 2017Q3 were reported. 36 were reported by Rockefeller Fincl Svcs Inc. Moreover, Eaton Vance has 0% invested in Freeport-McMoRan Inc. (NYSE:FCX). Lenox Wealth Management holds 0.01% or 948 shares in its portfolio. Delaware-based Reliance Trust Company Of Delaware has invested 0.32% in Freeport-McMoRan Inc. (NYSE:FCX). Lingohr Partner Asset Mngmt Gmbh invested 0.31% of its portfolio in Freeport-McMoRan Inc. (NYSE:FCX). Berkshire Asset Mngmt Limited Liability Pa has 20,699 shares for 0.04% of their portfolio. Amundi Pioneer Asset Mgmt has 0.1% invested in Freeport-McMoRan Inc. (NYSE:FCX) for 3.43M shares. Ls Investment Advsr Llc holds 46,474 shares or 0.05% of its portfolio. Letko Brosseau & accumulated 7.84M shares. Ontario – Canada-based Tdam Usa has invested 0.01% in Freeport-McMoRan Inc. (NYSE:FCX). Nuwave Ltd Llc accumulated 91 shares. Qs Invsts Ltd Com invested in 0.05% or 255,167 shares. Asset Mngmt invested in 0.08% or 124,991 shares. Citigroup stated it has 0.02% in Freeport-McMoRan Inc. (NYSE:FCX). Hollencrest Mngmt stated it has 0.08% in Freeport-McMoRan Inc. (NYSE:FCX).

Since January 31, 2018, it had 0 insider buys, and 1 insider sale for $419,125 activity.

Group One Trading Lp increased its stake in Freeport (FCX) by 50.2% based on its latest 2017Q4 regulatory filing with the SEC. Group One Trading Lp bought 517,837 shares as the company’s stock declined 4.75% with the market. The institutional investor held 1.55M shares of the basic industries company at the end of 2017Q4, valued at $29.38 million, up from 1.03M at the end of the previous reported quarter. Group One Trading Lp who had been investing in Freeport for a number of months, seems to be bullish on the $28.00 billion market cap company. The stock decreased 1.18% or $0.23 during the last trading session, reaching $19.34. About 11.03 million shares traded. Freeport-McMoRan Inc. (NYSE:FCX) has risen 41.20% since April 20, 2017 and is uptrending. It has outperformed by 29.65% the S&P500.

Group One Trading Lp, which manages about $14.23B US Long portfolio, decreased its stake in Mylan N V (NASDAQ:MYL) by 104,774 shares to 95,210 shares, valued at $4.03M in 2017Q4, according to the filing. It also reduced its holding in Kroger Co (Call) by 466,400 shares in the quarter, leaving it with 458,400 shares, and cut its stake in Alnylam Pharmaceuticals Inc (NASDAQ:ALNY).

Freeport-McMoRan Inc. (NYSE:FCX) Ratings Coverage

Among 11 analysts covering Freeport-McMoRan (NYSE:FCX), 3 have Buy rating, 0 Sell and 8 Hold. Therefore 27% are positive. Freeport-McMoRan had 18 analyst reports since October 23, 2017 according to SRatingsIntel. BMO Capital Markets maintained Freeport-McMoRan Inc. (NYSE:FCX) on Monday, December 18 with “Hold” rating. The rating was upgraded by Morgan Stanley to “Hold” on Monday, December 11. Stifel Nicolaus maintained the shares of FCX in report on Tuesday, February 6 with “Hold” rating. The company was maintained on Monday, March 26 by Morgan Stanley. The stock has “Buy” rating by Jefferies on Thursday, January 25. RBC Capital Markets maintained the stock with “Hold” rating in Sunday, December 3 report. The stock of Freeport-McMoRan Inc. (NYSE:FCX) earned “Neutral” rating by UBS on Tuesday, March 6. The firm has “Hold” rating by Scotia Capital given on Monday, January 8. The firm has “Buy” rating given on Monday, April 9 by Jefferies. The stock of Freeport-McMoRan Inc. (NYSE:FCX) earned “Buy” rating by Cowen & Co on Monday, January 29.

Freeport-McMoRan Inc. (NYSE:FCX) Institutional Positions Chart

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