Freeport-McMoRan Inc. (NYSE:FCX) Stake Raised by Norden Group LLC

Norden Group LLC raised its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,459 shares of the natural resource company’s stock after acquiring an additional 1,559 shares during the quarter. Norden Group LLC’s holdings in Freeport-McMoRan were worth $931,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Prospera Private Wealth LLC grew its position in Freeport-McMoRan by 4.4% during the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after purchasing an additional 234 shares in the last quarter. Continuum Advisory LLC boosted its stake in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Freeport-McMoRan by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock valued at $2,518,000 after acquiring an additional 244 shares in the last quarter. Intellectus Partners LLC increased its stake in shares of Freeport-McMoRan by 0.4% in the third quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company’s stock worth $3,582,000 after acquiring an additional 256 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its holdings in shares of Freeport-McMoRan by 1.8% during the third quarter. Mesirow Financial Investment Management Inc. now owns 15,646 shares of the natural resource company’s stock worth $781,000 after acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. BMO Capital Markets lowered their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Scotiabank dropped 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. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $36.92 on Monday. The company has a market capitalization of $53.05 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24. The company’s fifty day moving average price is $38.31 and its 200 day moving average price is $42.60.

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

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.