Union Bancaire Privee UBP SA Makes New $734,000 Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Union Bancaire Privee UBP SA acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,801 shares of the natural resource company's stock, valued at approximately $734,000.

Several other hedge funds have also recently made changes to their positions in FCX. Matrix Trust Co purchased a new stake in Freeport-McMoRan in the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Freeport-McMoRan in the 2nd quarter valued at $27,000. Godsey & Gibb Inc. increased its holdings in Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company's stock valued at $29,000 after buying an additional 346 shares in the last quarter. Laurel Wealth Advisors LLC boosted its stake 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 acquiring an additional 600 shares in the last quarter. Finally, Continuum Advisory LLC grew its position in shares of Freeport-McMoRan by 46.8% in the third 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 period. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 1.2 %

Shares of FCX traded up $0.44 during mid-day trading on Wednesday, hitting $36.28. 12,598,854 shares of the company's stock were exchanged, compared to its average volume of 14,734,842. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The company has a market cap of $52.14 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 2.39 and a beta of 1.87. The stock's 50-day moving average is $40.51 and its 200-day moving average is $43.64. Freeport-McMoRan Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 7.40% and a net margin of 7.81%. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Jefferies Financial Group lowered Freeport-McMoRan from a "buy" rating to a "hold" rating and cut their price objective for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Scotiabank reduced their price target on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Finally, BMO Capital Markets cut their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of "Moderate Buy" and a consensus price target 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.