Freeport-McMoRan Inc. (NYSE:FCX) Stock Position Lifted by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 91.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,215 shares of the natural resource company’s stock after acquiring an additional 6,773 shares during the period. Lebenthal Global Advisors LLC’s holdings in Freeport-McMoRan were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Fisher Asset Management LLC grew its holdings in shares of Freeport-McMoRan by 2.4% during the third 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 purchasing an additional 1,392,494 shares during the last quarter. Geode Capital Management LLC raised its stake in Freeport-McMoRan by 1.9% during 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 in the last quarter. Franklin Resources Inc. boosted its position in Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after acquiring an additional 2,366,187 shares during the period. Mountaineer Partners Management LLC grew its stake in shares of Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after purchasing an additional 11,687,982 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Freeport-McMoRan by 1.6% during the third 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 purchasing an additional 127,251 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FCX has been the subject of several research analyst reports. Raymond James upped their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Scotiabank reduced their price target 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. BMO Capital Markets lowered 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 note on Friday. JPMorgan Chase & Co. cut 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. Finally, Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price target for the company from $48.00 to $40.00 in a research report on Friday. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $36.67 on Tuesday. The company’s fifty day moving average is $40.67 and its two-hundred day moving average is $43.74. The company has a market cap of $52.70 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. Freeport-McMoRan Inc. has a 12-month low of $36.26 and a 12-month high of $55.24. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last issued 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 net margin of 7.81% and a return on equity of 7.40%. Equities analysts expect that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

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.