Hosking Partners LLP Increases Position in Freeport-McMoRan Inc. (NYSE:FCX)

Hosking Partners LLP boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,299,631 shares of the natural resource company's stock after acquiring an additional 50,109 shares during the quarter. Freeport-McMoRan accounts for approximately 1.9% of Hosking Partners LLP's investment portfolio, making the stock its 19th biggest holding. Hosking Partners LLP owned 0.09% of Freeport-McMoRan worth $49,490,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Asset Planning Inc bought a new position in Freeport-McMoRan in the 4th quarter valued at about $25,000. Laurel Wealth Advisors LLC lifted its position in 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 in the last quarter. Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $28,000. Continuum Advisory LLC lifted its position in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock worth $37,000 after buying an additional 236 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Freeport-McMoRan during the 3rd quarter worth approximately $46,000. Institutional investors own 80.77% of the company's stock.

Analyst Ratings Changes

FCX has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets dropped their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their target price for the stock from $40.00 to $48.00 in a research report on Thursday. Finally, Scotiabank decreased their price target 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, January 24th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $52.04.

Freeport-McMoRan Trading Down 3.8 %

Freeport-McMoRan stock traded down $1.42 during mid-day trading on Monday, hitting $35.49. The company's stock had a trading volume of 18,098,115 shares, 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. The stock has a market cap of $51.00 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The business has a 50 day moving average price of $38.23 and a 200-day moving average price of $42.54. Freeport-McMoRan Inc. has a 12 month low of $34.89 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly 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 return on equity of 7.50% and a net margin of 7.42%. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Company 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.