Freeport-McMoRan (FCX) Given "Underperform" Rating at Bank of America

The hedge fund run by Tony Chedraoui held 600,000 shares of the basic industries company at the end of 2017Q3, valued at $8.42 million, up from 320,500 at the end of the previous reported quarter. The company has a market cap of $27,160.00, a price-to-earnings ratio of 15.61 and a beta of 2.48. Company fiscal year is ending in December and analysts' consensus recommendation is Hold for FCX and estimated EPS for next quarter is 1.20. About 16.55 million shares traded.

Institutions own 70.87% of Freeport-McMoRan Inc. It has underperformed by 9.87% the S&P500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. This works out to a net increase in ownership of 37.17 million shares, and suggests that institutions are feeling bullish about the stock.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 30.35%, and has a solid year to date (YTD) performance of 0.84% which means that the stock is constantly adding to its value from the previous fiscal year end price. A statistical measure of the dispersion of returns (volatility) for FCX producing salvation in Investors mouth, it has week volatility of 6.10% and for the month booked as 4.48%. The stock decreased 3.50% or $4.56 during the last trading session, reaching $125.86. Alliancebernstein LP owns 2.61 million shares. Honeywell International Inc. (NYSE:HON) has risen 17.66% since February 18, 2017 and is uptrending. It has outperformed by 34.26% the S&P500.

Investors sentiment decreased to 1.06 in Q3 2017. Its up 0.11, from 1.68 in 2017Q2. It increased, as 50 investors sold CFG shares while 178 reduced holdings. 45 funds opened positions while 93 raised stakes. Tctc Limited Liability Corp reported 695,890 shares. Engineers Gate Manager Lp holds 0.09% of its portfolio in Citizens Financial Group, Inc. (NYSE:FCX) for 978,109 shares. Advantus Cap Inc stated it has 136,135 shares or 0.05% of all its holdings. (NYSE:CFG). Manufacturers Life Insurance Co The holds 0.15% in Citizens Financial Group, Inc. About 16.55M shares traded. Daiwa Secs Gru owns 41,758 shares or 0% of their USA portfolio. Natixis invested in 942,931 shares. Strs Ohio accumulated 0% or 23,900 shares. Cibc World invested in 72,925 shares. (NASDAQ:BLUE). Reynders Mcveigh Capital Management Ltd Liability has 0.12% invested in bluebird bio, Inc. (NYSE:THO) to report earnings on March, 5. Tiaa Cref Mngmt Ltd Company has 9.77 million shares. Quantitative Mngmt Limited Liability reported 0.18% stake. SELL rating has been given by 2 analyst (s) and 1 analyst (s) given BUY rating to the stock. Therefore 56% are positive. bluebird bio had 81 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of bluebird bio, Inc. Morgan Stanley maintained the stock with "Overweight" rating in Wednesday, December 13 report. Berenberg downgraded the stock to "Sell" rating in Wednesday, November 30 report. The firm has "Buy" rating by Jefferies given on Wednesday, October 4. (NYSE:CFG) has "Outperform" rating given on Friday, May 13 by Wells Fargo. The company was downgraded on Thursday, August 20 by Zacks. The firm has "Market Perform" rating by BMO Capital Markets given on Wednesday, July 26. Panagora Asset Management reported 2,227 shares.

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Columbus Circle Investors, which manages about $17.54B and $5.87B US Long portfolio, upped its stake in Southwest Airls Co (NYSE:LUV) by 46,101 shares to 267,004 shares, valued at $14.95M in 2017Q3, according to the filing. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Therefore 20% are positive. Moreover, Wealthfront has 0.01% invested in Freeport-McMoRan Inc. The firm has "Buy" rating by Citigroup given on Friday, June 17. Stifel Nicolaus maintained the stock with "Hold" rating in Tuesday, February 6 report. Jefferies Group reiterated a "buy" rating and issued a $19.00 price objective (down previously from $23.00) on shares of Freeport-McMoRan in a research report on Wednesday, October 4th. (NYSE:FCX) earned "Buy" rating by Jefferies on Tuesday, May 17. Macquarie Research initiated the stock with "Hold" rating in Thursday, September 7 report. (NYSE:FCX) has "Outperform" rating given on Saturday, August 15 by Macquarie Research. The stock has "Outperform" rating by Cowen & Co on Friday, July 24. As per Monday, February 6, the company rating was downgraded by Roth Capital. Bank of America maintained Freeport-McMoRan Inc. (NYSE:FCX) for 201,550 shares.

Investors sentiment increased to 1.79 in Q3 2017. Its the same as in 2017Q2. It has no change, as 57 investors sold FCX shares while 214 reduced holdings. only 91 funds opened positions while 181 raised stakes. Cypress Funds Llc, a California-based fund reported 1.81 million shares. 96,350 are owned by Flippin Bruce Porter Inc. (NYSE:FCX) for 33,500 shares. Ohio-based Winfield Associate has invested 0.24% in bluebird bio, Inc. (NYSE:FCX) for 2.00 million shares. The company has an average rating of "Hold" and a consensus target price of $16.24. (NYSE:FCX) for 308,204 shares. National Bank & Trust Of Nova Scotia holds 238,614 shares or 0.02% of its portfolio. Pacad Investment Ltd has 0.04% invested in CYS Investments, Inc. Investment Centers Of America Inc who had been investing in Freeport for a number of months, seems to be less bullish one the $27.31 billion market cap company. Wheatland Advisors Incorporated reported 0.29% in Freeport-McMoRan Inc.

Since August 23, 2017, it had 0 buys, and 7 sales for $23.51 million activity.

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