Amundi Boosts Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Amundi boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 30.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,580,960 shares of the natural resource company’s stock after acquiring an additional 5,001,531 shares during the quarter. Amundi owned 1.50% of Freeport-McMoRan worth $857,305,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Asset Planning Inc purchased a new position in Freeport-McMoRan during the 4th quarter valued at $25,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan during the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC raised its position in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan in the 4th quarter worth $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Freeport-McMoRan in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $36.97 on Friday. Freeport-McMoRan Inc. has a one year low of $34.26 and a one year high of $55.24. The stock has a market cap of $53.13 billion, a PE ratio of 28.66, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The stock has a 50 day moving average price of $38.10 and a 200 day moving average price of $42.42.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FCX. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Scotiabank lowered their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

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.