Freeport-McMoRan Inc. (NYSE:FCX) Stake Increased by Quantbot Technologies LP

Quantbot Technologies LP boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 30.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,595 shares of the natural resource company’s stock after acquiring an additional 49,022 shares during the period. Quantbot Technologies LP’s holdings in Freeport-McMoRan were worth $8,096,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $25,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan in the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC raised its stake 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 buying an additional 600 shares in the last quarter. Roxbury Financial LLC bought a new position in Freeport-McMoRan during the 4th quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $29,000. 80.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FCX has been the topic of several research reports. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Sanford C. Bernstein cut shares of 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 report on Tuesday, January 7th. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price objective for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Finally, BMO Capital Markets decreased their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $40.31 on Friday. The stock has a 50 day simple moving average of $38.03 and a 200-day simple moving average of $41.96. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a market cap of $57.93 billion, a PE ratio of 31.25, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly 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 return on equity of 7.50% and a net margin of 7.42%. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Company 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.