Baader Bank Aktiengesellschaft Invests $324,000 in Freeport-McMoRan Inc. (NYSE:FCX)

Baader Bank Aktiengesellschaft bought a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,500 shares of the natural resource company's stock, valued at approximately $324,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FCX. Matrix Trust Co purchased a new stake in Freeport-McMoRan during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Freeport-McMoRan during the second quarter valued at $27,000. Laurel Wealth Advisors LLC boosted its position in shares of 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 during the last quarter. Godsey & Gibb Inc. increased its holdings in Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company's stock worth $29,000 after buying an additional 346 shares in the last quarter. Finally, Continuum Advisory LLC raised its position in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock worth $37,000 after buying an additional 236 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of research analyst reports. Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday. BMO Capital Markets cut their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Scotiabank lowered their price target on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Sanford C. Bernstein lowered Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their target price on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.46.

Freeport-McMoRan Stock Performance

NYSE FCX traded down $0.83 on Friday, reaching $35.81. 13,384,377 shares of the stock were exchanged, compared to its average volume of 13,272,459. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a one year low of $35.46 and a one year high of $55.24. The firm has a market capitalization of $51.46 billion, a PE ratio of 27.76, a PEG ratio of 0.86 and a beta of 1.87. The company's 50-day simple moving average is $40.06 and its two-hundred day simple moving average is $43.35.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. Analysts expect that Freeport-McMoRan Inc. will post 1.75 EPS for the current fiscal year.

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.