Virtu Financial LLC Invests $2.67 Million in Freeport-McMoRan Inc. (NYSE:FCX)

Virtu Financial LLC purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 70,170 shares of the natural resource company’s stock, valued at approximately $2,672,000.

A number of other hedge funds and 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% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock worth $3,994,000 after purchasing an additional 56,475 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Freeport-McMoRan by 4.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 228,860 shares of the natural resource company’s stock valued at $11,425,000 after purchasing an additional 9,153 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Freeport-McMoRan by 26.0% in the 3rd quarter. Jennison Associates LLC now owns 312,201 shares of the natural resource company’s stock valued at $15,585,000 after purchasing an additional 64,350 shares in the last quarter. King Luther Capital Management Corp lifted its stake in shares of Freeport-McMoRan by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 20,303 shares of the natural resource company’s stock valued at $1,014,000 after purchasing an additional 323 shares in the last quarter. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Freeport-McMoRan by 69.6% in the 3rd quarter. Icon Wealth Advisors LLC now owns 9,029 shares of the natural resource company’s stock valued at $451,000 after purchasing an additional 3,704 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.0 %

NYSE:FCX opened at $40.31 on Friday. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The stock has a market cap of $57.93 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 0.87 and a beta of 1.87. The business has a fifty day moving average of $38.03 and a 200-day moving average of $41.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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 net margin of 7.42% and a return on equity of 7.50%. Equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on FCX shares. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday. Scotiabank cut their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft raised 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. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Six investment 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

About Freeport-McMoRan

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.