Fox Run Management L.L.C. Takes Position in Freeport-McMoRan Inc. (NYSE:FCX)

Fox Run Management L.L.C. acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 74,438 shares of the natural resource company’s stock, valued at approximately $2,835,000. Freeport-McMoRan makes up about 0.5% of Fox Run Management L.L.C.’s holdings, making the stock its 3rd biggest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sanctuary Advisors LLC increased its position in Freeport-McMoRan by 9.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after acquiring an additional 14,501 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Freeport-McMoRan during the 3rd quarter worth $754,000. Madison Investment Advisors LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth $3,388,000. Principal Financial Group Inc. increased its holdings in shares of Freeport-McMoRan by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock worth $84,085,000 after buying an additional 66,699 shares during the last quarter. Finally, Czech National Bank increased its holdings in Freeport-McMoRan by 6.4% in the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock valued at $11,864,000 after purchasing an additional 18,852 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Down 1.0 %

NYSE:FCX opened at $40.31 on Friday. The company has a market capitalization of $57.93 billion, a P/E ratio of 31.25, a PEG ratio of 0.87 and a beta of 1.87. The firm has a fifty day simple moving average of $38.03 and a 200-day simple moving average of $41.96. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FCX. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets lowered their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the company from $40.00 to $48.00 in a 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. Finally, StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

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.