Callan Family Office LLC Acquires New Shares in Freeport-McMoRan Inc. (NYSE:FCX)

Callan Family Office LLC acquired a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,209 shares of the natural resource company's stock, valued at approximately $503,000.

A number of other institutional investors have also recently made changes to their positions in the company. Mountaineer Partners Management LLC boosted its stake in Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock valued at $595,702,000 after buying an additional 11,687,982 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Freeport-McMoRan by 142.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock valued at $162,964,000 after acquiring an additional 2,515,103 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Freeport-McMoRan by 9.5% in the third 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. Los Angeles Capital Management LLC grew its holdings in shares of Freeport-McMoRan by 423.5% in the third quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company's stock valued at $139,183,000 after purchasing an additional 2,255,529 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company's stock valued at $2,965,717,000 after purchasing an additional 1,392,494 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FCX shares. BMO Capital Markets dropped their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Scotiabank dropped their price target on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.75.

Freeport-McMoRan Trading Up 3.4 %

Shares of NYSE FCX traded up $1.18 during mid-day trading on Tuesday, reaching $35.68. The company had a trading volume of 10,375,537 shares, compared to its average volume of 15,196,926. The stock has a market cap of $51.28 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The business's 50-day moving average is $37.98 and its 200-day moving average is $42.28. 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 (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 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%. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share 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.