Metis Global Partners LLC Buys 12,448 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Metis Global Partners LLC increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,129 shares of the natural resource company's stock after buying an additional 12,448 shares during the period. Metis Global Partners LLC's holdings in Freeport-McMoRan were worth $5,146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mountaineer Partners Management LLC grew its holdings in Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock valued at $595,702,000 after purchasing an additional 11,687,982 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Freeport-McMoRan by 142.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock worth $162,964,000 after purchasing an additional 2,515,103 shares during the period. Franklin Resources Inc. boosted its position in Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company's stock valued at $1,348,522,000 after purchasing an additional 2,366,187 shares during the period. Los Angeles Capital Management LLC increased its position in Freeport-McMoRan by 423.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company's stock valued at $139,183,000 after acquiring an additional 2,255,529 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Freeport-McMoRan by 2.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company's stock valued at $2,965,717,000 after buying an additional 1,392,494 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Down 3.1 %

Shares of NYSE FCX traded down $1.13 during mid-day trading on Monday, reaching $35.78. 9,152,211 shares of the company's stock traded hands, compared to its average volume of 14,391,307. Freeport-McMoRan Inc. has a 1-year low of $34.89 and a 1-year high of $55.24. 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 business has a 50-day simple moving average of $38.31 and a 200 day simple moving average of $42.60. The stock has a market cap of $51.42 billion, a P/E ratio of 27.75, a PEG ratio of 0.87 and a beta of 1.85.

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

Wall Street Analyst Weigh In

FCX has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price objective 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 cut their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Sanford C. Bernstein lowered Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of "Moderate Buy" and an average target price of $52.04.

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.