Y Intercept Hong Kong Ltd Takes $3.62 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Y Intercept Hong Kong Ltd purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 94,966 shares of the natural resource company's stock, valued at approximately $3,616,000.

A number of other institutional investors also recently modified their holdings of the company. Fidelis Capital Partners LLC lifted its holdings in shares of Freeport-McMoRan by 2.0% in the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company's stock valued at $560,000 after purchasing an additional 231 shares in the last quarter. Prospera Private Wealth LLC lifted its holdings in shares of Freeport-McMoRan by 4.4% in the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company's stock valued at $277,000 after purchasing an additional 234 shares in the last quarter. Continuum Advisory LLC lifted its holdings 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 in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Freeport-McMoRan by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company's stock valued at $2,518,000 after purchasing an additional 244 shares in the last quarter. Finally, Intellectus Partners LLC lifted its holdings in shares of Freeport-McMoRan by 0.4% in the third quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company's stock valued at $3,582,000 after purchasing an additional 256 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FCX. JPMorgan Chase & Co. lowered their target price 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 lowered 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. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their target price for the company from $40.00 to $48.00 in a research report on Thursday. Sanford C. Bernstein downgraded 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. Finally, Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.04.

Freeport-McMoRan Price Performance

Shares of FCX stock traded down $0.60 during trading on Thursday, hitting $37.35. The company had a trading volume of 13,143,335 shares, compared to its average volume of 14,531,678. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a market capitalization of $53.67 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The stock's 50-day moving average price is $38.35 and its 200 day moving average price is $42.62. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

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.