Fisher Asset Management LLC Sells 44,675 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Fisher Asset Management LLC lowered its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,364,720 shares of the natural resource company's stock after selling 44,675 shares during the quarter. Fisher Asset Management LLC owned about 4.13% of Freeport-McMoRan worth $2,260,609,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Sanctuary Advisors LLC boosted its holdings in Freeport-McMoRan by 9.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company's stock worth $8,219,000 after buying an additional 14,501 shares during the period. Easterly Investment Partners LLC lifted its position in shares of Freeport-McMoRan by 137.5% in the third quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company's stock valued at $7,375,000 after acquiring an additional 85,542 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Freeport-McMoRan in the third quarter worth about $754,000. Summit Global Investments boosted its stake in shares of Freeport-McMoRan by 1,559.3% in the third quarter. Summit Global Investments now owns 76,493 shares of the natural resource company's stock worth $3,819,000 after acquiring an additional 71,883 shares during the period. Finally, AIA Group Ltd grew its position in shares of Freeport-McMoRan by 16.2% during the third quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company's stock worth $4,604,000 after purchasing an additional 12,887 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FCX has been the subject of several recent analyst reports. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and upped their price target for the stock from $40.00 to $48.00 in a research note on Thursday. BMO Capital Markets dropped 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. Sanford C. Bernstein cut shares of 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 note on Tuesday, January 7th. Scotiabank decreased their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.04.

Freeport-McMoRan Trading Down 2.0 %

Shares of Freeport-McMoRan stock traded down $0.74 on Monday, reaching $36.17. The company had a trading volume of 8,634,699 shares, compared to its average volume of 14,384,580. The firm has a market cap of $51.98 billion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 0.87 and a beta of 1.85. 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 $38.31 and its two-hundred day moving average price is $42.60. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. As a group, research analysts predict 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.