Larson Financial Group LLC Purchases 1,077 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Larson Financial Group LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 47.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,329 shares of the natural resource company’s stock after buying an additional 1,077 shares during the period. Larson Financial Group LLC’s holdings in Freeport-McMoRan were worth $127,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. HM Payson & Co. increased its position in shares of Freeport-McMoRan by 97.8% in the 4th quarter. HM Payson & Co. now owns 6,216 shares of the natural resource company’s stock valued at $237,000 after buying an additional 3,074 shares in the last quarter. Banco Santander S.A. bought a new position in Freeport-McMoRan during the 4th quarter worth about $3,175,000. Machina Capital S.A.S. increased its holdings in Freeport-McMoRan by 72.3% during the 4th quarter. Machina Capital S.A.S. now owns 30,937 shares of the natural resource company’s stock worth $1,178,000 after purchasing an additional 12,977 shares in the last quarter. Edgestream Partners L.P. increased its holdings in Freeport-McMoRan by 2,641.7% during the 4th quarter. Edgestream Partners L.P. now owns 219,035 shares of the natural resource company’s stock worth $8,341,000 after purchasing an additional 211,046 shares in the last quarter. Finally, West Family Investments Inc. increased its holdings in Freeport-McMoRan by 12.1% during the 4th quarter. West Family Investments Inc. now owns 6,830 shares of the natural resource company’s stock worth $260,000 after purchasing an additional 737 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FCX shares. Scotiabank lowered their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Finally, Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Freeport-McMoRan Trading Up 4.0 %

Shares of NYSE:FCX opened at $35.88 on Wednesday. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24. The company has a market capitalization of $51.55 billion, a P/E ratio of 27.81, 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 $37.94 and a 200 day simple moving average of $42.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last issued its 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%. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

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.