Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its position in Freeport-McMoRan Inc. (NYSE:FCX) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,228 shares of the natural resource company’s stock after selling 2,241 shares during the period. Securian Asset Management Inc.’s holdings in Freeport-McMoRan were worth $2,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its position in Freeport-McMoRan by 9.7% during the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock worth $8,219,000 after buying an additional 14,501 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Freeport-McMoRan during the third quarter worth approximately $754,000. Principal Financial Group Inc. lifted its position in Freeport-McMoRan by 4.1% during the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock worth $84,085,000 after buying an additional 66,699 shares in the last quarter. Czech National Bank lifted its position in Freeport-McMoRan by 6.4% during the fourth quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock worth $11,864,000 after buying an additional 18,852 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in Freeport-McMoRan by 1,206.8% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,055 shares of the natural resource company’s stock worth $652,000 after buying an additional 12,056 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank reduced their price objective 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. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. BMO Capital Markets reduced their target price 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. Finally, Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their target price for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Six investment 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. Based on data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Freeport-McMoRan Price Performance

FCX stock opened at $36.84 on Thursday. 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 market capitalization of $52.94 billion, a PE ratio of 28.56, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The business’s fifty day moving average price is $37.92 and its 200 day moving average price is $42.18.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

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.