Generali Investments Management Co LLC Makes New $596,000 Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Generali Investments Management Co LLC acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,651 shares of the natural resource company’s stock, valued at approximately $596,000.

Other large investors also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in Freeport-McMoRan during the fourth quarter worth approximately $25,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC increased its stake in Freeport-McMoRan by 487.8% during the fourth 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 during the last quarter. Roxbury Financial LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth approximately $29,000. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Up 0.8 %

Shares of NYSE FCX opened at $39.82 on Wednesday. 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 market capitalization of $57.23 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 0.87 and a beta of 1.87. The stock has a 50 day moving average price of $37.97 and a 200 day moving average price of $42.01. 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 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%. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FCX shares. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. dropped their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Scotiabank dropped their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, BMO Capital Markets dropped 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. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus 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.