Swedbank AB Decreases Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Swedbank AB decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,436,760 shares of the natural resource company's stock after selling 86,639 shares during the period. Swedbank AB owned approximately 0.17% of Freeport-McMoRan worth $92,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Matrix Trust Co purchased a new stake in Freeport-McMoRan during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Freeport-McMoRan in the 2nd quarter worth approximately $27,000. Godsey & Gibb Inc. grew its position in Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company's stock valued at $29,000 after acquiring an additional 346 shares during the last quarter. Laurel Wealth Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after acquiring an additional 600 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock valued at $37,000 after purchasing an additional 236 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

FCX stock traded up $0.11 on Thursday, hitting $36.39. The company had a trading volume of 4,748,645 shares, compared to its average volume of 14,207,928. The stock has a market cap of $52.28 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 2.39 and a beta of 1.87. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The stock's 50-day simple moving average is $40.36 and its 200 day simple moving average is $43.58. Freeport-McMoRan Inc. has a 12-month low of $35.46 and a 12-month high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results 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 7.81% and a return on equity of 7.40%. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FCX shares. Raymond James raised their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. BMO Capital Markets cut their target price 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. Scotiabank lowered 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 report on Friday, January 24th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.46.

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.