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

Xponance Inc. boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 201,026 shares of the natural resource company’s stock after purchasing an additional 4,380 shares during the quarter. Xponance Inc.’s holdings in Freeport-McMoRan were worth $7,655,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FCX. Asset Planning Inc purchased a new stake in Freeport-McMoRan during the fourth quarter worth $25,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth $27,000. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth $29,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $40.41 on Thursday. The firm has a market capitalization of $58.08 billion, a PE ratio of 31.33, 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 current ratio of 2.42 and a quick ratio of 1.18. The business has a 50-day moving average of $37.99 and a two-hundred day moving average of $42.00. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24.

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%. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, March 6th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, BMO Capital Markets cut their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.