DJE Kapital AG Acquires New Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

DJE Kapital AG bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 93,516 shares of the natural resource company's stock, valued at approximately $3,574,000.

A number of other hedge funds have also recently added to or reduced their stakes in FCX. Fisher Asset Management LLC boosted its holdings in shares of Freeport-McMoRan by 2.4% in 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 acquiring an additional 1,392,494 shares during the period. Geode Capital Management LLC raised its position in Freeport-McMoRan by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company's stock valued at $1,436,455,000 after purchasing an additional 529,099 shares during the last quarter. Franklin Resources Inc. boosted its stake in Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company's stock worth $1,348,522,000 after purchasing an additional 2,366,187 shares during the period. Mountaineer Partners Management LLC grew 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 worth $595,702,000 after purchasing an additional 11,687,982 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Freeport-McMoRan by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company's stock valued at $410,494,000 after purchasing an additional 127,251 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. decreased their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their target price for the company from $40.00 to $48.00 in a research note on Thursday. BMO Capital Markets cut their price target on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan has an average rating of "Moderate Buy" and a consensus price target of $52.04.

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded down $1.42 during trading on Monday, hitting $35.49. 18,098,115 shares of the company were exchanged, compared to its average volume of 14,627,199. 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 1 year low of $34.89 and a 1 year high of $55.24. The company has a market cap of $51.00 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 0.87 and a beta of 1.85. The firm's fifty day moving average price is $38.23 and its 200 day moving average price is $42.54.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data 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%. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share 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.