Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by LGT Group Foundation

LGT Group Foundation boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 11.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 211,355 shares of the natural resource company’s stock after acquiring an additional 22,169 shares during the quarter. LGT Group Foundation’s holdings in Freeport-McMoRan were worth $8,048,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in FCX. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Laurel Wealth Advisors LLC boosted its stake in Freeport-McMoRan by 487.8% during the 4th 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 bought a new position in Freeport-McMoRan during the 4th quarter valued at $28,000. Kohmann Bosshard Financial Services LLC bought a new position in Freeport-McMoRan during the 4th quarter valued at $29,000. Finally, Financial Life Planners bought a new position in Freeport-McMoRan during the 4th quarter valued at $36,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $36.92 on Monday. The stock has a market cap of $53.05 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The business has a fifty day simple moving average of $38.31 and a 200-day simple moving average of $42.60. The company has a quick ratio of 1.18, a current ratio of 2.42 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.

Freeport-McMoRan (NYSE:FCX) last issued 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%. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FCX shares. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price target for the company from $40.00 to $48.00 in a research note on Thursday. BMO Capital Markets decreased their price target 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. Scotiabank reduced their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

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.