Lingohr Asset Management GmbH Buys Shares of 6,230 Freeport-McMoRan Inc. (NYSE:FCX)

Lingohr Asset Management GmbH purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,230 shares of the natural resource company’s stock, valued at approximately $237,000.

A number of other hedge funds have also recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund increased its position in Freeport-McMoRan by 240.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock worth $3,994,000 after buying an additional 56,475 shares in the last quarter. AMG National Trust Bank increased its holdings in Freeport-McMoRan by 10.2% in the 3rd quarter. AMG National Trust Bank now owns 6,018 shares of the natural resource company’s stock worth $300,000 after acquiring an additional 558 shares in the last quarter. Prospera Financial Services Inc raised its stake in Freeport-McMoRan by 15.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,497 shares of the natural resource company’s stock worth $3,569,000 after acquiring an additional 9,648 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Freeport-McMoRan during the third quarter valued at approximately $3,016,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Freeport-McMoRan by 4.2% in the third quarter. PNC Financial Services Group Inc. now owns 228,860 shares of the natural resource company’s stock worth $11,425,000 after purchasing an additional 9,153 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 1.4 %

Shares of NYSE FCX opened at $40.41 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The firm’s 50-day moving average price is $37.99 and its 200-day moving average price is $42.00. The stock has a market capitalization of $58.08 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued 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, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

FCX has been the topic of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Scotiabank decreased their target price on 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.