Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Princeton Capital Management LLC

Princeton Capital Management LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 2.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 25,705 shares of the natural resource company’s stock after acquiring an additional 660 shares during the period. Princeton Capital Management LLC’s holdings in Freeport-McMoRan were worth $979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in FCX. Continuum Advisory LLC boosted its holdings in shares of Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares during the period. PFG Investments LLC grew its holdings in shares of Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after acquiring an additional 283 shares in the last quarter. Larson Financial Group LLC grew its stake in Freeport-McMoRan by 14.6% in the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock valued at $112,000 after purchasing an additional 287 shares in the last quarter. Palogic Value Management L.P. increased its holdings in Freeport-McMoRan by 1.5% in the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock worth $772,000 after buying an additional 292 shares during the last quarter. Finally, SeaCrest Wealth Management LLC lifted its stake in Freeport-McMoRan by 1.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock valued at $727,000 after acquiring an additional 307 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FCX. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Thursday, March 6th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price objective for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Trading Up 3.5 %

Shares of FCX stock opened at $41.66 on Tuesday. The firm has a fifty day moving average of $38.08 and a 200-day moving average of $41.97. The stock has a market cap of $59.87 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24. 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 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 return on equity of 7.50% and a net margin of 7.42%. On average, equities research analysts forecast 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.