Kohmann Bosshard Financial Services LLC Buys Shares of 750 Freeport-McMoRan Inc. (NYSE:FCX)

Kohmann Bosshard Financial Services LLC bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 750 shares of the natural resource company’s stock, valued at approximately $29,000.

Other large investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its stake in shares of Freeport-McMoRan by 2.4% in the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock valued at $2,965,717,000 after acquiring an additional 1,392,494 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Freeport-McMoRan by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after acquiring an additional 529,099 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after acquiring an additional 2,366,187 shares during the last quarter. Mountaineer Partners Management LLC increased its stake in shares of Freeport-McMoRan by 4,767.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after acquiring an additional 11,687,982 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Freeport-McMoRan by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company’s stock valued at $410,494,000 after acquiring an additional 127,251 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 3.8 %

NYSE:FCX opened at $35.49 on Tuesday. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. 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 business has a 50 day moving average price of $38.23 and a two-hundred day moving average price of $42.54. The company has a market cap of $51.00 billion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last released 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%. As a group, analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FCX has been the subject of a number of recent analyst reports. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. 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. Scotiabank lowered their target price on 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. Finally, Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.