Tamar Securities LLC Has $15.66 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Tamar Securities LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,292 shares of the natural resource company's stock after purchasing an additional 45,113 shares during the period. Freeport-McMoRan makes up 2.2% of Tamar Securities LLC's portfolio, making the stock its 21st biggest position. Tamar Securities LLC's holdings in Freeport-McMoRan were worth $15,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FCX. Jeppson Wealth Management LLC lifted its position in Freeport-McMoRan by 9.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 42,194 shares of the natural resource company's stock worth $1,607,000 after buying an additional 3,663 shares in the last quarter. Lebenthal Global Advisors LLC increased its stake in shares of Freeport-McMoRan by 91.0% in the fourth quarter. Lebenthal Global Advisors LLC now owns 14,215 shares of the natural resource company's stock worth $541,000 after acquiring an additional 6,773 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Freeport-McMoRan by 20.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 201,735 shares of the natural resource company's stock worth $7,682,000 after acquiring an additional 34,228 shares in the last quarter. Parsons Capital Management Inc. RI boosted its position in Freeport-McMoRan by 42.6% during the fourth quarter. Parsons Capital Management Inc. RI now owns 66,936 shares of the natural resource company's stock valued at $2,549,000 after purchasing an additional 20,002 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Freeport-McMoRan by 11.4% in the fourth quarter. Pacer Advisors Inc. now owns 136,799 shares of the natural resource company's stock valued at $5,209,000 after purchasing an additional 14,023 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock traded down $0.87 during trading on Tuesday, reaching $35.80. The company's stock had a trading volume of 16,838,861 shares, compared to its average volume of 14,873,137. Freeport-McMoRan Inc. has a one year low of $35.46 and a one year high of $55.24. The firm has a market cap of $51.45 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. The business's fifty day moving average price is $40.67 and its 200-day moving average price is $43.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate 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 predict that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reduced their price target on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Friday. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. dropped 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 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. Finally, Raymond James upped their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Eight equities research 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. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of "Moderate Buy" and an average target price of $51.46.

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.