Boston Partners Purchases 392,787 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Boston Partners lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,971,752 shares of the natural resource company’s stock after acquiring an additional 392,787 shares during the period. Boston Partners owned approximately 0.35% of Freeport-McMoRan worth $189,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FCX. Mountaineer Partners Management LLC increased its position in Freeport-McMoRan by 4,767.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after purchasing an additional 11,687,982 shares in the last quarter. Amundi increased its position in Freeport-McMoRan by 30.2% during the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock worth $857,305,000 after purchasing an additional 5,001,531 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Freeport-McMoRan by 142.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company’s stock worth $162,964,000 after purchasing an additional 2,515,103 shares in the last quarter. Franklin Resources Inc. increased its position in Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after purchasing an additional 2,366,187 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Freeport-McMoRan by 2.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after purchasing an additional 1,392,494 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FCX shares. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Scotiabank decreased their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. 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 stock. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Freeport-McMoRan Trading Up 0.8 %

FCX opened at $39.82 on Wednesday. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $37.97 and a 200-day moving average of $42.01. The stock has a market cap of $57.23 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

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