Intech Investment Management LLC Purchases Shares of 24,772 Freeport-McMoRan Inc. (NYSE:FCX)

Intech Investment Management LLC purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,772 shares of the natural resource company’s stock, valued at approximately $943,000.

Other hedge funds have also recently bought and sold shares of the company. Horizon Investments LLC lifted its position in shares of Freeport-McMoRan by 72.0% in the fourth quarter. Horizon Investments LLC now owns 103,247 shares of the natural resource company’s stock valued at $3,917,000 after buying an additional 43,232 shares during the last quarter. Freemont Management S.A. lifted its position in shares of Freeport-McMoRan by 50.0% in the fourth quarter. Freemont Management S.A. now owns 30,000 shares of the natural resource company’s stock valued at $1,142,000 after buying an additional 10,000 shares during the last quarter. TCTC Holdings LLC lifted its position in shares of Freeport-McMoRan by 1.1% in the fourth quarter. TCTC Holdings LLC now owns 719,098 shares of the natural resource company’s stock valued at $27,383,000 after buying an additional 7,974 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of Freeport-McMoRan by 92.8% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,918 shares of the natural resource company’s stock valued at $73,000 after buying an additional 923 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Freeport-McMoRan by 10.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 36,405 shares of the natural resource company’s stock valued at $1,386,000 after buying an additional 3,333 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Trading Down 1.0 %

Shares of FCX opened at $40.31 on Friday. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24. The business’s fifty day moving average is $38.03 and its 200-day moving average is $41.97. 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 firm has a market cap of $57.93 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results 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%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FCX. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $48.00 to $52.00 in a report on Thursday. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average 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.