Freemont Management S.A. Has $1.14 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Freemont Management S.A. raised its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the natural resource company’s stock after buying an additional 10,000 shares during the period. Freemont Management S.A.’s holdings in Freeport-McMoRan were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC increased its holdings in shares of Freeport-McMoRan by 9.7% during the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock worth $8,219,000 after buying an additional 14,501 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freeport-McMoRan during the third quarter worth approximately $754,000. Madison Investment Advisors LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth approximately $3,388,000. Principal Financial Group Inc. increased its holdings in shares of Freeport-McMoRan by 4.1% during the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock worth $84,085,000 after buying an additional 66,699 shares in the last quarter. Finally, Czech National Bank increased its holdings in shares of Freeport-McMoRan by 6.4% during the fourth quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock worth $11,864,000 after buying an additional 18,852 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 1.7 %

Shares of NYSE FCX opened at $39.50 on Tuesday. The company’s fifty day moving average is $37.95 and its 200-day moving average is $42.04. The stock has a market cap of $56.76 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. 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 (NYSE:FCX) last announced its quarterly earnings results 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 7.50% and a net margin of 7.42%. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on FCX shares. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Scotiabank decreased their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

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.