Great Lakes Advisors LLC lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,507,698 shares of the natural resource company's stock after buying an additional 33,993 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.10% of Freeport-McMoRan worth $57,413,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of FCX. Asset Planning Inc bought a new stake in Freeport-McMoRan during the 4th quarter valued at approximately $25,000. Vision Financial Markets LLC purchased a new stake in Freeport-McMoRan during the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock valued at $28,000 after acquiring an additional 600 shares during the last quarter. Roxbury Financial LLC purchased a new position in Freeport-McMoRan in the fourth quarter worth about $28,000. Finally, Continuum Advisory LLC increased its stake in Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock worth $37,000 after acquiring an additional 236 shares during the last quarter. Institutional investors own 80.77% of the company's stock.
Freeport-McMoRan Price Performance
NYSE:FCX opened at $35.88 on Wednesday. The firm's fifty day moving average is $37.94 and its two-hundred day moving average is $42.22. The firm has a market cap of $51.55 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results 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%. Research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms have commented on FCX. Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday. Scotiabank dropped their price objective 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. Sanford C. Bernstein cut Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Argus lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their price objective for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of "Moderate Buy" and an average target price of $51.75.
View Our Latest Stock Analysis on Freeport-McMoRan
Freeport-McMoRan Company Profile
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Free Report)
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.
See Also
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