ING Groep NV Sells 8,640 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

ING Groep NV lessened its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 386,726 shares of the natural resource company's stock after selling 8,640 shares during the quarter. ING Groep NV's holdings in Freeport-McMoRan were worth $14,727,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $25,000. Laurel Wealth Advisors LLC boosted its stake 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 purchasing an additional 600 shares during the period. Roxbury Financial LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at $28,000. Continuum Advisory LLC lifted its holdings in shares of 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 buying an additional 236 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Freeport-McMoRan in the third quarter valued at about $46,000. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

FCX traded down $0.76 during trading on Tuesday, reaching $36.36. 5,388,157 shares of the company were exchanged, compared to its average volume of 14,357,355. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24. The company has a market cap of $52.24 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 0.87 and a beta of 1.85. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company's 50-day moving average is $38.46 and its two-hundred day moving average is $42.72.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly 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 net margin of 7.42% and a return on equity of 7.50%. Research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Jefferies Financial Group lowered 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 report on Friday, January 24th. BMO Capital Markets cut 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, January 24th. Scotiabank dropped 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 report on Friday, January 24th. Finally, Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.46.

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.