TCW Group Inc. Trims Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

TCW Group Inc. lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 12.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 810,091 shares of the natural resource company's stock after selling 116,557 shares during the period. TCW Group Inc. owned approximately 0.06% of Freeport-McMoRan worth $30,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Asset Planning Inc purchased a new stake in Freeport-McMoRan in the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC increased its position in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after purchasing an additional 600 shares during the last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan in the 4th quarter valued at about $28,000. Continuum Advisory LLC raised its holdings in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock valued at $37,000 after buying an additional 236 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in Freeport-McMoRan in the third quarter valued at about $46,000. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Up 3.4 %

NYSE FCX traded up $1.27 on Wednesday, hitting $38.03. 16,580,765 shares of the stock were exchanged, compared to its average volume of 14,560,388. Freeport-McMoRan Inc. has a fifty-two week low of $34.89 and a fifty-two week high of $55.24. The company has a 50-day moving average price of $38.38 and a 200-day moving average price of $42.69. 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 company has a market cap of $54.64 billion, a PE ratio of 29.48, a PEG ratio of 0.87 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its 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 return on equity of 7.50% and a net margin of 7.42%. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FCX. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating and reduced their price target for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Scotiabank cut their target price on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. Argus lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Sanford C. Bernstein cut Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased 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. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.