Y Intercept Hong Kong Ltd Makes New $3.62 Million Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Y Intercept Hong Kong Ltd purchased a new position in Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 94,966 shares of the natural resource company’s stock, valued at approximately $3,616,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the 4th quarter worth $25,000. Laurel Wealth Advisors LLC grew its position in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $28,000. Financial Life Planners acquired a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $36,000. 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 valued at $37,000 after acquiring an additional 236 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Freeport-McMoRan Trading Down 5.1 %

Shares of NYSE FCX opened at $36.97 on Monday. Freeport-McMoRan Inc. has a 1-year low of $34.89 and a 1-year high of $55.24. The company has a market cap of $53.13 billion, a PE ratio of 28.66, a P/E/G ratio of 0.87 and a beta of 1.85. 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 has a 50-day moving average of $38.53 and a two-hundred day moving average of $42.75.

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 earnings per share for the current fiscal year.

Freeport-McMoRan 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.