Achmea Investment Management B.V. Grows Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Achmea Investment Management B.V. boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 787.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 58,426 shares of the natural resource company’s stock after buying an additional 51,842 shares during the period. Achmea Investment Management B.V.’s holdings in Freeport-McMoRan were worth $2,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Asset Planning Inc bought a new position in Freeport-McMoRan in the 4th quarter valued at $25,000. Vision Financial Markets LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at $27,000. 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 valued at $28,000 after acquiring an additional 600 shares during the last quarter. Roxbury Financial LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

FCX has been the topic of several research analyst reports. BMO Capital Markets cut their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday. Scotiabank dropped their price target on 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. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Freeport-McMoRan Trading Up 3.5 %

Freeport-McMoRan stock opened at $38.91 on Friday. The stock has a 50-day moving average of $37.91 and a two-hundred day moving average of $42.15. 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 Inc. has a one year low of $33.98 and a one year high of $55.24. The stock has a market cap of $55.91 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS 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.