Palogic Value Management L.P. Increases Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Palogic Value Management L.P. increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,277 shares of the natural resource company’s stock after acquiring an additional 292 shares during the period. Palogic Value Management L.P.’s holdings in Freeport-McMoRan were worth $772,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in Freeport-McMoRan in the 4th quarter worth approximately $25,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan in the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC grew its position in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC bought a new stake in Freeport-McMoRan in the 4th quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Freeport-McMoRan in the 4th quarter worth approximately $29,000. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FCX. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $48.00 to $52.00 in a research report on Thursday. 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. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Stock Up 0.7 %

Shares of FCX stock opened at $40.72 on Friday. The stock has a market cap of $58.51 billion, a P/E ratio of 31.56, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. 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 company’s fifty day simple moving average is $38.00 and its two-hundred day simple moving average is $41.99.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly 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%. Analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

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.