Asset Management One Co. Ltd. Has $23.23 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Asset Management One Co. Ltd. lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 597,757 shares of the natural resource company’s stock after acquiring an additional 2,418 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Freeport-McMoRan were worth $23,225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FCX. Sanctuary Advisors LLC increased its stake in shares of Freeport-McMoRan by 9.7% in the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after buying an additional 14,501 shares during the period. Easterly Investment Partners LLC increased its position in Freeport-McMoRan by 137.5% in the 3rd quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock valued at $7,375,000 after acquiring an additional 85,542 shares during the period. Summit Global Investments raised its stake in shares of Freeport-McMoRan by 1,559.3% during the third quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock valued at $3,819,000 after acquiring an additional 71,883 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Freeport-McMoRan during the third quarter worth $754,000. Finally, AIA Group Ltd grew its stake in shares of Freeport-McMoRan by 16.2% in the third quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock worth $4,604,000 after purchasing an additional 12,887 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on FCX shares. JPMorgan Chase & Co. lowered their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Raymond James upped their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. BMO Capital Markets reduced their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $39.46 on Friday. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The stock’s 50 day moving average is $38.93 and its 200-day moving average is $42.86. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $56.69 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 0.81 and a beta of 1.85.

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 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%. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal 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.