Mizuho Securities USA LLC Has $5.19 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Mizuho Securities USA LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 46.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 136,188 shares of the natural resource company’s stock after purchasing an additional 43,016 shares during the period. Mizuho Securities USA LLC’s holdings in Freeport-McMoRan were worth $5,186,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth $2,672,000. Quantbot Technologies LP lifted its holdings in shares of Freeport-McMoRan by 30.0% during the fourth quarter. Quantbot Technologies LP now owns 212,595 shares of the natural resource company’s stock worth $8,096,000 after purchasing an additional 49,022 shares during the period. Adams Natural Resources Fund Inc. lifted its holdings in shares of Freeport-McMoRan by 2.0% during the fourth quarter. Adams Natural Resources Fund Inc. now owns 259,400 shares of the natural resource company’s stock worth $9,878,000 after purchasing an additional 5,000 shares during the period. Sciencast Management LP acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth $2,472,000. Finally, Semanteon Capital Management LP raised its stake in Freeport-McMoRan by 114.8% during the fourth quarter. Semanteon Capital Management LP now owns 33,621 shares of the natural resource company’s stock worth $1,280,000 after buying an additional 17,967 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.0 %

NYSE:FCX opened at $40.31 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm has a 50-day moving average of $38.03 and a 200-day moving average of $41.97. The company has a market cap of $57.93 billion, a PE ratio of 31.25, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate 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, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FCX shares. BMO Capital Markets lowered their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $48.00 to $52.00 in a research note on Thursday. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Finally, Scotiabank lowered their target price on shares of 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. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock 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.