ING Groep NV Has $14.73 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

ING Groep NV cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 386,726 shares of the natural resource company’s stock after selling 8,640 shares during the quarter. ING Groep NV’s holdings in Freeport-McMoRan were worth $14,727,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FCX. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC raised its stake in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at $28,000. Financial Life Planners acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at $36,000. Finally, Continuum Advisory LLC raised its stake 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. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $38.95 on Friday. The stock’s fifty day moving average is $38.62 and its 200-day moving average is $42.74. 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 stock has a market capitalization of $55.97 billion, a PE ratio of 30.20, a PEG ratio of 0.88 and a beta of 1.85. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced 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 return on equity of 7.50% and a net margin of 7.42%. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their target price for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, BMO Capital Markets dropped their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Nine investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.46.

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.