Oppenheimer Asset Management Inc. Buys 13,604 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Oppenheimer Asset Management Inc. boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218,901 shares of the natural resource company’s stock after purchasing an additional 13,604 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Freeport-McMoRan were worth $8,336,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC grew its stake in Freeport-McMoRan by 2.0% during the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock valued at $560,000 after acquiring an additional 231 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Freeport-McMoRan by 4.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,690 shares of the natural resource company’s stock valued at $2,381,000 after purchasing an additional 2,078 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Freeport-McMoRan by 0.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 220,726 shares of the natural resource company’s stock valued at $11,019,000 after purchasing an additional 983 shares during the period. S.A. Mason LLC grew its position in shares of Freeport-McMoRan by 42.1% during the 3rd quarter. S.A. Mason LLC now owns 4,413 shares of the natural resource company’s stock valued at $220,000 after purchasing an additional 1,307 shares in the last quarter. Finally, Catalyst Financial Partners LLC increased its holdings in shares of Freeport-McMoRan by 5.4% in the third quarter. Catalyst Financial Partners LLC now owns 7,085 shares of the natural resource company’s stock worth $354,000 after purchasing an additional 364 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $37.35 on Friday. 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 stock has a market cap of $53.67 billion, a PE ratio of 28.95, a PEG ratio of 0.87 and a beta of 1.85. The company’s fifty day moving average is $38.35 and its 200 day moving average is $42.62. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data 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%. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FCX. JPMorgan Chase & Co. dropped their price objective 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. BMO Capital Markets dropped their price target 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. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their target price for the company from $40.00 to $48.00 in a research note on Thursday. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Company 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.