Y Intercept Hong Kong Ltd Invests $3.62 Million in Freeport-McMoRan Inc. (NYSE:FCX)

Y Intercept Hong Kong Ltd purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 94,966 shares of the natural resource company’s stock, valued at approximately $3,616,000.

Other institutional investors also recently modified their holdings of the company. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC grew its position in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after buying an additional 600 shares during the period. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $28,000. Financial Life Planners acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $36,000. Finally, Continuum Advisory LLC grew its position in shares of Freeport-McMoRan by 46.8% during the 3rd 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. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 5.1 %

Freeport-McMoRan stock opened at $36.97 on Monday. The stock has a market capitalization of $53.13 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $38.53 and a 200-day moving average of $42.75.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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 anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their price objective for the company from $48.00 to $40.00 in a report on Friday, January 24th. BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target 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.