Pacer Advisors Inc. Has $5.21 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Pacer Advisors Inc. increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,799 shares of the natural resource company's stock after buying an additional 14,023 shares during the period. Pacer Advisors Inc.'s holdings in Freeport-McMoRan were worth $5,209,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Fisher Asset Management LLC grew its position in Freeport-McMoRan by 2.4% in the third 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 acquiring an additional 1,392,494 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Freeport-McMoRan by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company's stock valued at $1,436,455,000 after buying an additional 529,099 shares during the last quarter. Franklin Resources Inc. lifted its holdings 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 worth $1,348,522,000 after purchasing an additional 2,366,187 shares in the last quarter. Mountaineer Partners Management LLC raised its holdings in shares of Freeport-McMoRan by 4,767.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock valued at $595,702,000 after acquiring an additional 11,687,982 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Freeport-McMoRan by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company's stock valued at $410,494,000 after purchasing an additional 127,251 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FCX shares. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Raymond James lifted their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Jefferies Financial Group cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating and decreased their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Finally, Scotiabank reduced their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $51.46.

Freeport-McMoRan Stock Performance

FCX stock traded down $0.15 during trading on Friday, reaching $36.49. 5,151,618 shares of the company's stock were exchanged, compared to its average volume of 14,106,265. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 1-year low of $35.46 and a 1-year high of $55.24. The company's fifty day moving average price is $40.22 and its 200-day moving average price is $43.54. The firm has a market cap of $52.44 billion, a PE ratio of 28.27, a P/E/G ratio of 0.86 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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, research analysts expect that Freeport-McMoRan Inc. will post 1.75 EPS for the current fiscal year.

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.