Institutions Selling Their Shares of Freeport-McMoRan Copper & Gold
Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX).
SEC data indicate that these institutions significantly reduced their stock shares of Freeport-McMoRan Copper & Gold Inc. in Q3 2011:
- WINSLOW CAPITAL MANAGEMENT INC /MN: On 06/30/2011, held 4,443,836 shares, worth $232,323,746. On 09/30/2011, held 0 shares.
- CAPITAL GROWTH MANAGEMENT LP: On 06/30/2011, held 1,960,000 shares, worth $102,468,800. On 09/30/2011, held 0 shares.
- THIRD POINT LLC: On 06/30/2011, held 1,650,000 shares, worth $86,262,000. On 09/30/2011, held 0 shares.
- PARTNER FUND MANAGEMENT, L.P.: On 06/30/2011, held 1,367,980 shares, worth $71,517,994. On 09/30/2011, held 0 shares.
- RENAISSANCE GROUP LLC: On 06/30/2011, held 1,142,615 shares, worth $59,735,912. On 09/30/2011, held 0 shares.
About the company: Freeport-McMoRan Copper & Gold Inc., through its subsidiary, is a copper, gold and molybdenum mining company. The Company primarily mines for copper and owns mining interests in Chile and Indonesia. Freeport-McMoRan Copper & Gold also, through a subsidiary, is involved in smelting and refining of copper concentrates.
Competitors to Watch: Southern Copper Corp. (NYSE:SCCO), Rio Tinto plc (NYSE:RIO), Newmont Mining Corporation (NYSE:NEM), Taseko Mines Limited (AMEX:TGB), HudBay Minerals Inc. (NYSE:HBM), Alcoa Inc. (NYSE:AA), SPDR Gold Trust (NYSE:GLD), Royal Gold, Inc. (NASDAQ:RGLD), Augusta Resource Corp. (AMEX:AZC), and Vista Gold Corp. (AMEX:VGZ).
(Note: Data regarding Freeport-McMoRan Copper & Gold Inc.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)
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