Signature Estate & Investment Advisors LLC Grows Position in Freeport-McMoRan Inc. (NYSE:FCX)

Signature Estate & Investment Advisors LLC boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 463,394 shares of the natural resource company’s stock after purchasing an additional 41,172 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $17,646,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mountaineer Partners Management LLC raised its position in shares of Freeport-McMoRan by 4,767.8% in 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 buying an additional 11,687,982 shares during the period. Amundi increased its stake in Freeport-McMoRan by 30.2% during the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock worth $857,305,000 after acquiring an additional 5,001,531 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Freeport-McMoRan by 142.5% in 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 during the period. Franklin Resources Inc. lifted its stake in shares of Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after purchasing an additional 2,366,187 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of 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 during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 3.5 %

NYSE FCX opened at $41.66 on Tuesday. The company has a market capitalization of $59.87 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The company’s fifty day moving average price is $38.08 and its two-hundred day moving average price is $41.97.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 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%. As a group, research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on FCX. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. upgraded Freeport-McMoRan from a “neutral” rating to an “overweight” rating and increased their price target for the company from $48.00 to $52.00 in a report on Thursday, March 20th. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Finally, Scotiabank lowered their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Six 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’s stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $52.04.

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.