24,772 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by Intech Investment Management LLC

Intech Investment Management LLC acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 24,772 shares of the natural resource company’s stock, valued at approximately $943,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Horizon Investments LLC grew its position in Freeport-McMoRan by 72.0% during the 4th quarter. Horizon Investments LLC now owns 103,247 shares of the natural resource company’s stock worth $3,917,000 after acquiring an additional 43,232 shares during the last quarter. Freemont Management S.A. grew its position in Freeport-McMoRan by 50.0% during the 4th quarter. Freemont Management S.A. now owns 30,000 shares of the natural resource company’s stock worth $1,142,000 after acquiring an additional 10,000 shares during the last quarter. TCTC Holdings LLC grew its position in Freeport-McMoRan by 1.1% during the 4th quarter. TCTC Holdings LLC now owns 719,098 shares of the natural resource company’s stock worth $27,383,000 after acquiring an additional 7,974 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Freeport-McMoRan by 92.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,918 shares of the natural resource company’s stock worth $73,000 after buying an additional 923 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Freeport-McMoRan by 10.1% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 36,405 shares of the natural resource company’s stock worth $1,386,000 after buying an additional 3,333 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 1.0 %

FCX stock opened at $40.31 on Friday. The stock’s 50 day simple moving average is $38.03 and its 200 day simple moving average is $41.97. Freeport-McMoRan Inc. has a fifty-two week low of $33.98 and a fifty-two week high of $55.24. 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 company has a market cap of $57.93 billion, a P/E ratio of 31.25, a price-to-earnings-growth 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 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%. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FCX has been the topic of several recent research reports. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $48.00 to $52.00 in a report on Thursday. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Finally, StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan 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.