Freeport-McMoRan Inc. (NYSE:FCX) Position Lifted by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 48.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,410 shares of the natural resource company’s stock after acquiring an additional 2,751 shares during the period. Smartleaf Asset Management LLC’s holdings in Freeport-McMoRan were worth $321,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Harbor Capital Advisors Inc. increased its holdings in shares of Freeport-McMoRan by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock valued at $2,518,000 after acquiring an additional 244 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in Freeport-McMoRan by 18.2% in the third quarter. Intact Investment Management Inc. now owns 9,100 shares of the natural resource company’s stock worth $454,000 after purchasing an additional 1,400 shares during the period. National Pension Service increased its stake in Freeport-McMoRan by 15.2% during the third quarter. National Pension Service now owns 3,020,035 shares of the natural resource company’s stock valued at $150,760,000 after purchasing an additional 398,983 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Freeport-McMoRan by 3.8% during the third quarter. Asset Management One Co. Ltd. now owns 595,339 shares of the natural resource company’s stock worth $29,719,000 after purchasing an additional 21,703 shares during the period. Finally, PDS Planning Inc raised its holdings in shares of Freeport-McMoRan by 10.3% during the third quarter. PDS Planning Inc now owns 6,947 shares of the natural resource company’s stock worth $347,000 after purchasing an additional 646 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $34.93 on Wednesday. The firm has a market capitalization of $50.20 billion, a PE ratio of 27.08, a P/E/G ratio of 0.87 and a beta of 1.85. 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 firm has a 50-day moving average price of $38.23 and a 200 day moving average price of $42.54. Freeport-McMoRan Inc. has a 52-week low of $34.26 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FCX has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. 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 report on Friday, January 24th. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Eight 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 a consensus price target of $52.04.

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.