Marathon Asset Management Ltd Has $15.70 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Marathon Asset Management Ltd cut its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 412,250 shares of the natural resource company's stock after selling 16,090 shares during the quarter. Marathon Asset Management Ltd's holdings in Freeport-McMoRan were worth $15,699,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FCX. Asset Planning Inc bought a new position in shares of Freeport-McMoRan in the fourth quarter worth about $25,000. Laurel Wealth Advisors LLC grew its stake in shares of Freeport-McMoRan by 487.8% during the fourth 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 last quarter. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $28,000. Continuum Advisory LLC raised its position in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth $29,000. 80.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FCX. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their target price for the company from $40.00 to $48.00 in a research note on Thursday. Scotiabank dropped their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. reduced 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 note on Thursday, January 16th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Eight equities 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $52.04.

Freeport-McMoRan Trading Down 3.8 %

Shares of FCX traded down $1.42 during trading hours on Monday, reaching $35.49. The stock had a trading volume of 18,098,115 shares, compared to its average volume of 14,627,199. The company has a market cap of $51.00 billion, a P/E ratio of 27.51, a P/E/G ratio of 0.87 and a beta of 1.85. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24. 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 firm has a 50-day moving average of $38.23 and a 200 day moving average of $42.54.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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%. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

About Freeport-McMoRan

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.