Tokio Marine Asset Management Co. Ltd. Has $1.76 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.0% during the fourth quarter, Holdings Channel reports. The firm owned 46,088 shares of the natural resource company’s stock after acquiring an additional 2,212 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Freeport-McMoRan were worth $1,755,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Capital Insight Partners LLC lifted its position in shares of Freeport-McMoRan by 6.9% during the fourth quarter. Capital Insight Partners LLC now owns 13,635 shares of the natural resource company’s stock valued at $519,000 after purchasing an additional 877 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Freeport-McMoRan by 16.9% during the fourth quarter. Chicago Partners Investment Group LLC now owns 5,948 shares of the natural resource company’s stock valued at $236,000 after purchasing an additional 860 shares in the last quarter. Ausbil Investment Management Ltd lifted its position in shares of Freeport-McMoRan by 130.8% during the fourth quarter. Ausbil Investment Management Ltd now owns 16,500 shares of the natural resource company’s stock valued at $622,000 after purchasing an additional 70,000 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Freeport-McMoRan in the fourth quarter worth about $383,000. Finally, Hartford Financial Management Inc. raised its position in Freeport-McMoRan by 3.1% in the fourth quarter. Hartford Financial Management Inc. now owns 17,397 shares of the natural resource company’s stock worth $662,000 after acquiring an additional 519 shares during the period. 80.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on FCX shares. JPMorgan Chase & Co. lowered their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, BMO Capital Markets lowered 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 report on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Stock Up 0.0 %

Shares of Freeport-McMoRan stock opened at $35.86 on Tuesday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $39.89 and its two-hundred day simple moving average is $43.28. The company has a market cap of $51.53 billion, a P/E ratio of 27.80, a PEG ratio of 0.85 and a beta of 1.85. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released 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%. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.75 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.