As Freeport (FCX) Shares Declined, Prudential Financial INC Increased Its Stake

Freeport-McMoRan Inc. (NYSE:FCX) Corporate LogoDuring 2018 Q3 the big money sentiment increased to 1.1. That’s change of 0.02, from 2018Q2’s 1.08. 55 investors sold all, 198 reduced holdings as FCX ratio improved. 204 rose holdings while 74 funds acquired holdings. Funds hold 983.61 million shares thus 3.09% less from 2018Q2’s 1.01 billion shares. Point72 Asset Mngmt LP holds 800,000 shs. Teacher Retirement Systems Of Texas invested in 418,399 shs. Natixis Advsr LP invested 0.06% in Freeport-McMoRan Inc. (NYSE:FCX). Ardevora Asset Llp has invested 0.52% in Freeport-McMoRan Inc. (NYSE:FCX). Wg Shaheen & Dba Whitney & Company accumulated 2,100 shs. Two Sigma Secs Ltd holds 0% of its capital in Freeport-McMoRan Inc. (NYSE:FCX) for 20,867 shs. Whittier Trust Of Nevada Inc accumulated 2,368 shs. Strategic Wealth Advsrs Group Ltd Company reported 31,300 shs. Bellecapital Intl Limited reported 10,765 shs. Suntrust Banks Incorporated has invested 0% in Freeport-McMoRan Inc. (NYSE:FCX). Acadian Asset Mgmt Limited Com accumulated 10,601 shs or 0% of the stock. Jpmorgan Chase reported 0.03% in Freeport-McMoRan Inc. (NYSE:FCX). Principal Fin Group Inc holds 3.09M shs or 0.04% of its capital. Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 285,143 shs or 0.03% of all its holdings. Hap Trading Limited Company holds 0.04% or 50,161 shs in its capital.

FCX registered $836,250 net activity with 0 insider buys and 1 insider sale since October 30, 2018.

According to 2018Q3 SEC filling the Prudential Financial Inc rose its stake in Freeport (FCX) by 2.16%. 250,188 shares were bought by Prudential Financial Inc as the company’s stock declined 19.02% with the market. The basic industries company announced $164.42M value for the 2018Q3. Now the institutional investor is holding 11.81 million shares, compared to the 11.56 million from the previous quarter. $16.77B is the market cap of Freeport. The stock increased 0.22% or $0.02 during the last trading session, reaching $11.57.Currently Freeport-McMoRan Inc. is downtrending after 27.96% change in last January 14, 2018. FCX has 9.51 million shares volume. FCX underperformed by 27.96% the S&P 500.

About $67.89B US Long portfolio Prudential Financial Inc operates. According to a filing the fund reduced its stake in Booking Hldgs Inc by 34,955 shares to 64,595 shares, valued at $128.16 million in 2018Q3. Prudential Financial Inc has cut its stake in Inogen Inc (NASDAQ:INGN) and also reduced its holding in Invesco Ltd (NYSE:IVZ) by 161,460 shares in the quarter, for a total of 847,686 shares.

There’s a substantial Freeport-McMoRan Inc. (NYSE:FCX) news released by It’s an item titled: “Freeport-McMoRan: Copper Price Play – Seeking Alpha” on August 02, 2017.

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

In total 7 analysts cover Freeport-McMoRan (NYSE:FCX). “Buy” rating has 1, “Sell” are 2, while 4 are “Hold”. 14% are bullish. 8 are the (NYSE:FCX)’s analyst reports since July 26, 2018 according to StockzIntelligence Inc. On Wednesday, September 19 the rating was maintained by FBR Capital with “Buy”. On Wednesday, October 17 Citigroup maintained the shares of FCX in report with “Neutral” rating. On Thursday, July 26 the stock of Freeport-McMoRan Inc. (NYSE:FCX) has “Hold” rating given by Deutsche Bank. On Thursday, October 25 the stock of Freeport-McMoRan Inc. (NYSE:FCX) has “Buy” rating given by FBR Capital. In Wednesday, November 7 report RBC Capital Markets downgraded the stock to “Underperform” rating. On Thursday, August 2 the stock has “Neutral” rating by Bank of America.

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

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