Foundations Investment Advisors LLC Grows Position in Freeport-McMoRan Inc. (NYSE:FCX)

Foundations Investment Advisors LLC grew its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 201,735 shares of the natural resource company's stock after acquiring an additional 34,228 shares during the quarter. Foundations Investment Advisors LLC's holdings in Freeport-McMoRan were worth $7,682,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FCX. Mountaineer Partners Management LLC raised its position in Freeport-McMoRan by 4,767.8% in 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 period. Assenagon Asset Management S.A. raised its holdings in shares of Freeport-McMoRan by 142.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock worth $162,964,000 after buying an additional 2,515,103 shares during the period. Franklin Resources Inc. lifted its stake in shares of 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 acquiring an additional 2,366,187 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Freeport-McMoRan by 423.5% during the 3rd 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 acquiring an additional 2,255,529 shares during the period. Finally, Fisher Asset Management LLC grew its position 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 valued at $2,965,717,000 after acquiring an additional 1,392,494 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Analysts Set New Price Targets

FCX has been the subject of a number of recent analyst reports. Scotiabank lowered their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research note on Friday. BMO Capital Markets lowered 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 report on Friday. Jefferies Financial Group lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating and reduced their target price for the stock from $48.00 to $40.00 in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, Raymond James lifted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.46.

Freeport-McMoRan Stock Down 3.0 %

Shares of NYSE:FCX traded down $1.14 during trading on Monday, reaching $36.67. The stock had a trading volume of 18,537,163 shares, compared to its average volume of 14,749,422. The firm's 50-day simple moving average is $40.81 and its 200 day simple moving average is $43.85. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a one year low of $36.26 and a one year high of $55.24. The company has a market capitalization of $52.70 billion, a P/E ratio of 26.77, a PEG ratio of 2.39 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.42 EPS for the current fiscal year.

Freeport-McMoRan 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.