Citizens Financial Group Inc. RI Has $7.06 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Citizens Financial Group Inc. RI lowered its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,473 shares of the natural resource company’s stock after selling 1,734 shares during the period. Citizens Financial Group Inc. RI’s holdings in Freeport-McMoRan were worth $7,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FCX. Fisher Asset Management LLC grew its position in Freeport-McMoRan by 2.4% in the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock valued at $2,965,717,000 after acquiring an additional 1,392,494 shares during the period. Geode Capital Management LLC boosted its stake in shares of Freeport-McMoRan by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after purchasing an additional 529,099 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after purchasing an additional 2,366,187 shares during the last quarter. Amundi increased its position in shares of Freeport-McMoRan by 30.2% during the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock worth $857,305,000 after purchasing an additional 5,001,531 shares in the last quarter. Finally, Mountaineer Partners Management LLC lifted its holdings in Freeport-McMoRan by 4,767.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after purchasing an additional 11,687,982 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $35.88 on Wednesday. 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 firm has a market capitalization of $51.55 billion, a P/E ratio of 27.81, a PEG ratio of 0.87 and a beta of 1.87. The business has a 50-day moving average of $37.94 and a 200-day moving average of $42.22. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FCX. Scotiabank decreased 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. JPMorgan Chase & Co. decreased their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Finally, Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.75.

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.