Daiwa Securities Group Inc. Boosts Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Daiwa Securities Group Inc. lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,549 shares of the natural resource company's stock after buying an additional 13,531 shares during the period. Daiwa Securities Group Inc.'s holdings in Freeport-McMoRan were worth $7,370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FCX. Fisher Asset Management LLC increased its stake in Freeport-McMoRan by 2.4% in 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. Geode Capital Management LLC grew its holdings in shares of Freeport-McMoRan by 1.9% in the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company's stock worth $1,436,455,000 after purchasing an additional 529,099 shares during the last quarter. Franklin Resources Inc. increased its stake 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 worth $1,348,522,000 after buying an additional 2,366,187 shares during the period. Amundi raised its holdings in Freeport-McMoRan by 30.2% during the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock valued at $857,305,000 after buying an additional 5,001,531 shares during the last quarter. Finally, Mountaineer Partners Management LLC boosted its position in Freeport-McMoRan by 4,767.8% during the 3rd 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 period. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Up 4.0 %

NYSE:FCX opened at $35.88 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm's 50-day moving average price is $37.94 and its 200-day moving average price is $42.22. The company has a market capitalization of $51.55 billion, a PE ratio of 27.81, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24.

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Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data 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 return on equity of 7.50% and a net margin of 7.42%. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FCX. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and boosted their price objective for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. BMO Capital Markets dropped their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and an average target price of $51.75.

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.

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