Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 22.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,405,085 shares of the natural resource company's stock after buying an additional 616,974 shares during the period. Los Angeles Capital Management LLC owned approximately 0.24% of Freeport-McMoRan worth $129,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rothschild Investment LLC lifted its holdings in shares of Freeport-McMoRan by 3.0% in the 4th quarter. Rothschild Investment LLC now owns 33,755 shares of the natural resource company's stock worth $1,285,000 after acquiring an additional 996 shares during the last quarter. IFP Advisors Inc raised its position in Freeport-McMoRan by 145.4% in the 4th quarter. IFP Advisors Inc now owns 71,014 shares of the natural resource company's stock worth $2,704,000 after purchasing an additional 42,075 shares during the period. RPG Investment Advisory LLC lifted its stake in Freeport-McMoRan by 0.5% in the fourth quarter. RPG Investment Advisory LLC now owns 262,827 shares of the natural resource company's stock worth $10,008,000 after purchasing an additional 1,185 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $3,616,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $734,000. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Down 1.3 %

Freeport-McMoRan stock traded down $0.51 during mid-day trading on Friday, reaching $36.92. 14,776,973 shares of the company were exchanged, compared to its average volume of 14,538,130. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24. The business has a fifty day moving average of $38.35 and a 200 day moving average of $42.62. The firm has a market cap of $53.05 billion, a P/E ratio of 28.62, 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.

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

Analyst Ratings Changes

FCX has been the subject of a number of research analyst reports. Argus lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Scotiabank decreased 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 report on Friday, January 24th. Finally, Jefferies Financial Group upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and upped their target price for the stock from $40.00 to $48.00 in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.