LGT Group Foundation Raises Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

LGT Group Foundation increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 211,355 shares of the natural resource company's stock after acquiring an additional 22,169 shares during the quarter. LGT Group Foundation's holdings in Freeport-McMoRan were worth $8,048,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its stake in shares of Freeport-McMoRan by 9.7% during the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company's stock valued at $8,219,000 after purchasing an additional 14,501 shares in the last quarter. Easterly Investment Partners LLC lifted its holdings in Freeport-McMoRan by 137.5% during the third quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company's stock worth $7,375,000 after buying an additional 85,542 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Freeport-McMoRan during the 3rd quarter valued at $754,000. Summit Global Investments increased its holdings in shares of Freeport-McMoRan by 1,559.3% in the 3rd quarter. Summit Global Investments now owns 76,493 shares of the natural resource company's stock valued at $3,819,000 after acquiring an additional 71,883 shares during the period. Finally, AIA Group Ltd increased its holdings in shares of Freeport-McMoRan by 16.2% in the 3rd quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company's stock valued at $4,604,000 after acquiring an additional 12,887 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX traded down $1.42 during mid-day trading on Monday, hitting $35.49. The stock had a trading volume of 18,098,115 shares, compared to its average volume of 14,627,199. The firm has a market cap of $51.00 billion, a PE ratio of 27.51, a PEG ratio of 0.87 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The company has a 50 day moving average of $38.23 and a two-hundred day moving average of $42.54. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates 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 predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FCX. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Scotiabank decreased 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, Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their price target for the stock from $40.00 to $48.00 in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Freeport-McMoRan has an average rating of "Moderate Buy" and a consensus price target of $52.04.

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.