Nisa Investment Advisors LLC Has $12.96 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Nisa Investment Advisors LLC cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 340,429 shares of the natural resource company’s stock after selling 610 shares during the period. Nisa Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $12,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Public Sector Pension Investment Board grew its stake in shares of Freeport-McMoRan by 74.3% during the second quarter. Public Sector Pension Investment Board now owns 55,421 shares of the natural resource company’s stock worth $2,693,000 after purchasing an additional 23,629 shares during the period. Insigneo Advisory Services LLC increased its stake in shares of Freeport-McMoRan by 95.7% in the 2nd quarter. Insigneo Advisory Services LLC now owns 12,175 shares of the natural resource company’s stock valued at $592,000 after acquiring an additional 5,954 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at approximately $525,000. AXA S.A. boosted its stake in Freeport-McMoRan by 101.5% during the 2nd quarter. AXA S.A. now owns 32,814 shares of the natural resource company’s stock worth $1,595,000 after acquiring an additional 16,531 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Freeport-McMoRan by 28.1% in the second quarter. AQR Capital Management LLC now owns 285,529 shares of the natural resource company’s stock worth $13,877,000 after purchasing an additional 62,663 shares during the period. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on FCX. JPMorgan Chase & Co. dropped their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Raymond James raised their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Scotiabank reduced their price target on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. Finally, Jefferies Financial Group dropped their price objective on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $52.42.

Freeport-McMoRan Trading Down 1.5 %

Shares of NYSE:FCX opened at $38.49 on Friday. Freeport-McMoRan Inc. has a 52-week low of $36.26 and a 52-week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The company has a market capitalization of $55.31 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 2.44 and a beta of 1.87. The company has a 50-day simple moving average of $40.91 and a 200 day simple moving average of $44.04.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data 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 net margin of 7.81% and a return on equity of 7.40%. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.43 earnings per share for the current year.

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.