OVERSEA CHINESE BANKING Corp Ltd Has $422,000 Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 114.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,867 shares of the natural resource company’s stock after acquiring an additional 5,803 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Freeport-McMoRan were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $25,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC boosted its position in shares of Freeport-McMoRan by 487.8% during the 4th 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 in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $28,000. Finally, Continuum Advisory LLC boosted its position in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and raised their target price for the company from $48.00 to $52.00 in a research report on Thursday. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Scotiabank cut their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Price Performance

FCX stock opened at $40.72 on Friday. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24. The company has a fifty day moving average price of $38.00 and a 200-day moving average price of $41.99. The company has a market capitalization of $58.51 billion, a P/E ratio of 31.56, a PEG ratio of 0.87 and a beta of 1.87. 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 announced its earnings results 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 return on equity of 7.50% and a net margin of 7.42%. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS 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.