Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,487,881 shares of the natural resource company's stock after purchasing an additional 264,843 shares during the period. Charles Schwab Investment Management Inc. owned about 0.59% of Freeport-McMoRan worth $323,219,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Mountaineer Partners Management LLC boosted its position 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 worth $595,702,000 after acquiring an additional 11,687,982 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 valued at $162,964,000 after purchasing an additional 2,515,103 shares during the period. Franklin Resources Inc. raised its stake in Freeport-McMoRan by 9.5% during 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 purchasing an additional 2,366,187 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Freeport-McMoRan by 423.5% in 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 purchasing an additional 2,255,529 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Freeport-McMoRan by 2.4% during 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 buying an additional 1,392,494 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their target price for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Sanford C. Bernstein cut shares of 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 research report on Tuesday, January 7th. Scotiabank dropped their price objective on shares of 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.04.

Freeport-McMoRan Stock Up 9.3 %

FCX stock opened at $38.16 on Thursday. Freeport-McMoRan Inc. has a twelve month low of $34.26 and a twelve month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $54.83 billion, a P/E ratio of 29.58, a PEG ratio of 0.87 and a beta of 1.87. The firm has a 50 day simple moving average of $38.15 and a 200-day simple moving average of $42.48.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly 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%. On average, equities 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.

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