KBC Group NV Reduces Stake in Freeport-McMoRan Inc. (NYSE:FCX)

KBC Group NV cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 70.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 138,452 shares of the natural resource company’s stock after selling 337,302 shares during the period. KBC Group NV’s holdings in Freeport-McMoRan were worth $5,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deane Retirement Strategies Inc. increased its position in Freeport-McMoRan by 0.4% during the 3rd quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company’s stock valued at $2,357,000 after purchasing an additional 201 shares during the period. Koshinski Asset Management Inc. increased its position in shares of Freeport-McMoRan by 1.0% during the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock valued at $1,037,000 after buying an additional 214 shares during the period. Trust Co. of Vermont raised its stake in Freeport-McMoRan by 5.2% in the third quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock worth $228,000 after buying an additional 228 shares in the last quarter. Fidelis Capital Partners LLC lifted its holdings in Freeport-McMoRan by 2.0% in the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock worth $560,000 after buying an additional 231 shares during the period. Finally, Prospera Private Wealth LLC boosted its position in Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after acquiring an additional 234 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 0.9 %

FCX stock opened at $36.62 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. Freeport-McMoRan Inc. has a 1-year low of $35.46 and a 1-year high of $55.24. The stock has a market capitalization of $52.62 billion, a P/E ratio of 26.73, a P/E/G ratio of 2.39 and a beta of 1.87. The business has a fifty day moving average price of $40.22 and a 200-day moving average price of $43.54.

Freeport-McMoRan (NYSE:FCX) last issued 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 7.40% and a net margin of 7.81%. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on FCX. JPMorgan Chase & Co. lowered their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Raymond James boosted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. BMO Capital Markets decreased their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Scotiabank dropped their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Finally, Sanford C. Bernstein downgraded 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 note on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.46.

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.