Natixis Advisors LLC Boosts Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Natixis Advisors LLC boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 17.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 565,983 shares of the natural resource company’s stock after purchasing an additional 82,047 shares during the period. Natixis Advisors LLC’s holdings in Freeport-McMoRan were worth $21,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in FCX. Healthcare of Ontario Pension Plan Trust Fund increased its position in Freeport-McMoRan by 240.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock valued at $3,994,000 after acquiring an additional 56,475 shares during the period. Atlanta Consulting Group Advisors LLC acquired a new position in Freeport-McMoRan in the 3rd quarter valued at about $241,000. Glass Wealth Management Co LLC increased its position in Freeport-McMoRan by 2.0% in the 3rd quarter. Glass Wealth Management Co LLC now owns 124,764 shares of the natural resource company’s stock valued at $6,228,000 after acquiring an additional 2,445 shares during the period. AMG National Trust Bank increased its position in Freeport-McMoRan by 10.2% in the 3rd quarter. AMG National Trust Bank now owns 6,018 shares of the natural resource company’s stock valued at $300,000 after acquiring an additional 558 shares during the period. Finally, Strengthening Families & Communities LLC increased its position in Freeport-McMoRan by 8.1% in the 3rd quarter. Strengthening Families & Communities LLC now owns 44,304 shares of the natural resource company’s stock valued at $2,212,000 after acquiring an additional 3,320 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

FCX stock opened at $39.50 on Tuesday. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The stock’s 50 day moving average price is $37.95 and its 200 day moving average price is $42.04. The firm has a market cap of $56.76 billion, a P/E ratio of 30.62, a PEG ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FCX shares. BMO Capital Markets dropped their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Finally, Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.75.

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.