Osborne Partners Capital Management LLC Purchases 2,158 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Osborne Partners Capital Management LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 2.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,377 shares of the natural resource company’s stock after purchasing an additional 2,158 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Freeport-McMoRan were worth $3,061,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. grew its position in Freeport-McMoRan by 5.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 46,088 shares of the natural resource company’s stock valued at $1,755,000 after acquiring an additional 2,212 shares during the last quarter. Capital Insight Partners LLC boosted its stake in shares of Freeport-McMoRan by 6.9% in the 4th quarter. Capital Insight Partners LLC now owns 13,635 shares of the natural resource company’s stock valued at $519,000 after purchasing an additional 877 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Freeport-McMoRan by 16.9% during the 4th quarter. Chicago Partners Investment Group LLC now owns 5,948 shares of the natural resource company’s stock valued at $236,000 after purchasing an additional 860 shares during the last quarter. Ausbil Investment Management Ltd raised its position in Freeport-McMoRan by 130.8% in the 4th quarter. Ausbil Investment Management Ltd now owns 16,500 shares of the natural resource company’s stock worth $622,000 after purchasing an additional 70,000 shares during the period. Finally, Heck Capital Advisors LLC bought a new stake in Freeport-McMoRan in the fourth quarter worth $383,000. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $35.81 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 1 year low of $35.46 and a 1 year high of $55.24. The company’s 50-day moving average is $40.06 and its 200 day moving average is $43.39. The stock has a market capitalization of $51.46 billion, a P/E ratio of 27.76, a P/E/G ratio of 0.86 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results 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 return on equity of 7.50% and a net margin of 7.42%. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FCX shares. BMO Capital Markets decreased their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Scotiabank lowered their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.46.

About Freeport-McMoRan

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.