Clearbridge Investments Reduces $258M in Freeport-McMoRan Inc. ($FCX)
Key Points
- Clearbridge Investments changed its Freeport-McMoRan Inc. ($FCX) stake by 25.3% last quarter, cutting to 11,156,828 shares worth $763.24 million.
- Wall Street's consensus rating on $FCX is Buy and an average price target of $68.86.
- $FCX last traded around $68.41.
Clearbridge Investments reduced its position in Freeport-McMoRan Inc. ($FCX) by 25.3% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,156,828 shares of Freeport-McMoRan Inc. after selling 3,776,102 shares during the quarter. Clearbridge Investments's holdings in Freeport-McMoRan Inc. were worth $763.24 million as of its most recent filing.
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About Freeport-McMoRan Inc.
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. The company was incorporated in 1987 and is headquartered in Phoenix, Arizona.
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