Baader Bank Aktiengesellschaft Buys New Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Baader Bank Aktiengesellschaft purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,500 shares of the natural resource company’s stock, valued at approximately $324,000.

Several other institutional investors have also bought and sold shares of the business. Matrix Trust Co purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Freeport-McMoRan during the second quarter worth approximately $27,000. Laurel Wealth Advisors LLC raised its position in Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the period. Godsey & Gibb Inc. lifted its stake in shares of Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in shares of Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the period. Institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FCX shares. Scotiabank decreased their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Raymond James upped their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Stock Performance

FCX stock opened at $36.62 on Friday. Freeport-McMoRan Inc. has a 1-year low of $35.46 and a 1-year high of $55.24. The business has a 50-day moving average price of $40.22 and a 200 day moving average price of $43.54. The company has a market capitalization of $52.62 billion, a P/E ratio of 26.73, a PEG ratio of 2.39 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.42 EPS for the current fiscal year.

Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's 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.