Northwestern Mutual Investment Management Company LLC reduced its shares in Freeport-McMoran, Inc. (NYSE:FCX) by 82.2% during the second quarter of 2017. According to its recent 13F filing with the Securities and Exchange Commission (SEC), the company sold 221,027 shares during the quarter.
The institutional investor owns 47,770 shares of the mining company’s stock. Those shares are worth $532,000 at the end of the second quarter.
However, other hedge funds have added reduced their stakes in the Freeport-McMoran’s stock. FMR LLC added its stake in shares by 104.4% during the first quarter of 2017. The company is the owner of 42,399,057 shares of the mining company. The stock is now valued at $566,451,000 following the purchase of an additional 21,652,647 shares.
Vanguard Group Inc. added its stake in shares of Freeport-McMoran by 10.7% during the first quarter. The company now has 132,991,679 shares of the company. Its stock is valued at $1,776,769,000 following the purchase of an additional 12,897,514 shares during the period.
The value of shares of Freeport-McMoran, Inc. (NYSE:FCX) reduced by 0.960%, reaching $14.341 on September 20, 2017. The number of shares exchanged were 4,113,735. The 50-day moving average of the mining firm is $14.57. However, 200-day moving average is $12.98.
The 52-week low of Freeport-McMoran reached at $9.24. On the other hand, the 52-week high reached at $17.06. The market capitalization of the stock was $20.76 billion, a beta of 2.57, and a PE ratio of 20.227.
Freeport-McMoran was received some unusual options trading activity on September 18, 2017. Traders bought 59,805 call options on the stock, which marks a raise of 168% in comparison to the usual daily volume of 22,335 call options.