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

Freemont Management S.A. increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 50.0% during the fourth quarter, HoldingsChannel reports. The fund 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 SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. TCTC Holdings LLC increased its stake in Freeport-McMoRan by 1.1% in the 4th quarter. TCTC Holdings LLC now owns 719,098 shares of the natural resource company’s stock valued at $27,383,000 after buying an additional 7,974 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in Freeport-McMoRan by 92.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,918 shares of the natural resource company’s stock valued at $73,000 after buying an additional 923 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Freeport-McMoRan by 10.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 36,405 shares of the natural resource company’s stock valued at $1,386,000 after buying an additional 3,333 shares during the last quarter. one8zero8 LLC acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $475,000. Finally, Choate Investment Advisors increased its stake in Freeport-McMoRan by 10.3% in the 4th quarter. Choate Investment Advisors now owns 14,235 shares of the natural resource company’s stock valued at $542,000 after buying an additional 1,330 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $39.50 on Tuesday. The company has a market capitalization of $56.76 billion, a price-to-earnings ratio of 30.62, 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 company has a 50-day simple moving average of $37.95 and a 200 day simple moving average of $42.04. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Scotiabank lowered their price objective 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 lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.