Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Amundi

Amundi boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 30.2% in the 4th quarter, HoldingsChannel reports. The fund owned 21,580,960 shares of the natural resource company’s stock after acquiring an additional 5,001,531 shares during the period. Amundi’s holdings in Freeport-McMoRan were worth $857,305,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $25,000. Vision Financial Markets LLC purchased a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC raised its position in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan during the fourth quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan in the fourth quarter valued at approximately $29,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $36.97 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $38.10 and a 200 day moving average price of $42.42. Freeport-McMoRan Inc. has a 52 week low of $34.26 and a 52 week 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.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly 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 net margin of 7.42% and a return on equity of 7.50%. Research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on FCX shares. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. JPMorgan Chase & Co. cut their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Scotiabank decreased their price objective on shares of 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. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday. Finally, BMO Capital Markets decreased their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Freeport-McMoRan currently has an average 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.