Sei Investments Co. Has $30.45 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Sei Investments Co. grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 799,649 shares of the natural resource company’s stock after purchasing an additional 83,490 shares during the period. Sei Investments Co. owned about 0.06% of Freeport-McMoRan worth $30,451,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. American Century Companies Inc. grew its position in Freeport-McMoRan by 20.0% during the fourth quarter. American Century Companies Inc. now owns 504,987 shares of the natural resource company’s stock worth $19,230,000 after buying an additional 84,207 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of Freeport-McMoRan by 46.2% during the 4th quarter. Mizuho Securities USA LLC now owns 136,188 shares of the natural resource company’s stock worth $5,186,000 after purchasing an additional 43,016 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter worth $2,672,000. Quantbot Technologies LP raised its stake in Freeport-McMoRan by 30.0% in the fourth quarter. Quantbot Technologies LP now owns 212,595 shares of the natural resource company’s stock valued at $8,096,000 after purchasing an additional 49,022 shares in the last quarter. Finally, Adams Natural Resources Fund Inc. lifted its position in Freeport-McMoRan by 2.0% during the fourth quarter. Adams Natural Resources Fund Inc. now owns 259,400 shares of the natural resource company’s stock worth $9,878,000 after purchasing an additional 5,000 shares during the period. 80.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Scotiabank dropped their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. BMO Capital Markets reduced their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. Finally, Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Stock Up 3.5 %

Shares of NYSE FCX opened at $43.08 on Wednesday. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. 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 firm has a market cap of $61.91 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The company has a 50 day simple moving average of $38.15 and a 200 day simple moving average of $42.00.

Freeport-McMoRan (NYSE:FCX) last released 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%. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

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.