Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 2,342.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 45,549 shares of the natural resource company’s stock after buying an additional 43,684 shares during the period. AlphaQuest LLC’s holdings in Freeport-McMoRan were worth $1,735,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its stake in 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 purchasing an additional 14,501 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Freeport-McMoRan during the third quarter worth approximately $754,000. Principal Financial Group Inc. lifted its position in shares of Freeport-McMoRan by 4.1% during the 3rd 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 during the last quarter. Czech National Bank boosted its holdings in shares of Freeport-McMoRan by 6.4% in the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock valued at $11,864,000 after buying an additional 18,852 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in shares of Freeport-McMoRan by 1,206.8% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,055 shares of the natural resource company’s stock valued at $652,000 after buying an additional 12,056 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Down 1.9 %

Shares of Freeport-McMoRan stock opened at $36.97 on Friday. Freeport-McMoRan Inc. has a one year low of $34.26 and a one year high of $55.24. The company has a market cap of $53.13 billion, a P/E ratio of 28.66, a PEG ratio of 0.87 and a beta of 1.87. 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 fifty day moving average of $38.06 and a two-hundred day moving average of $42.36.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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, analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FCX shares. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday. Scotiabank dropped their price target on 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 Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.75.

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.