Vinva Investment Management Ltd Boosts Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Vinva Investment Management Ltd lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,222 shares of the natural resource company’s stock after buying an additional 5,539 shares during the quarter. Vinva Investment Management Ltd’s holdings in Freeport-McMoRan were worth $2,603,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Planning Inc purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at $25,000. Vision Financial Markets LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% in the 4th 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 during the period. Roxbury Financial LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Freeport-McMoRan during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 1.4 %

Shares of NYSE FCX opened at $40.41 on Thursday. The stock has a market cap of $58.08 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24. The business has a 50-day moving average price of $37.99 and a 200 day moving average price of $42.00.

Freeport-McMoRan (NYSE:FCX) last announced 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%. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets cut their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Thursday, March 6th. Finally, Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.