Union Bancaire Privee UBP SA Buys Shares of 19,801 Freeport-McMoRan Inc. (NYSE:FCX)

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

A number of other large investors also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC increased its stake in Freeport-McMoRan by 2.0% in the 3rd quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company's stock worth $560,000 after buying an additional 231 shares in the last quarter. Prospera Private Wealth LLC grew its position in shares of Freeport-McMoRan by 4.4% during the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company's stock worth $277,000 after purchasing an additional 234 shares in the last quarter. Continuum Advisory LLC raised its stake in 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 period. Harbor Capital Advisors Inc. lifted its holdings in Freeport-McMoRan by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company's stock worth $2,518,000 after purchasing an additional 244 shares in the last quarter. Finally, Intellectus Partners LLC boosted its stake in Freeport-McMoRan by 0.4% in the 3rd quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company's stock worth $3,582,000 after purchasing an additional 256 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on FCX shares. BMO Capital Markets dropped their target price 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. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their price objective for the company from $40.00 to $48.00 in a research report on Thursday. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Sanford C. Bernstein cut Freeport-McMoRan from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $52.04.

Freeport-McMoRan Trading Down 1.3 %

Shares of FCX stock traded down $0.51 during trading hours on Friday, reaching $36.92. 14,776,471 shares of the stock were exchanged, compared to its average volume of 14,537,108. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24. The firm has a market capitalization of $53.05 billion, a price-to-earnings ratio of 28.62, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The company's 50-day moving average price is $38.35 and its 200-day moving average price is $42.62.

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 analysts' consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current 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.