Union Bancaire Privee UBP SA Invests $734,000 in Freeport-McMoRan Inc. (NYSE:FCX)

Union Bancaire Privee UBP SA purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,801 shares of the natural resource company’s stock, valued at approximately $734,000.

Several other hedge funds and other institutional investors have also modified their holdings of FCX. Private Advisor Group LLC boosted its holdings in Freeport-McMoRan by 1.1% in the third quarter. Private Advisor Group LLC now owns 77,315 shares of the natural resource company’s stock valued at $3,860,000 after purchasing an additional 842 shares during the period. Allworth Financial LP boosted its holdings in Freeport-McMoRan by 7.3% in the third quarter. Allworth Financial LP now owns 7,336 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Freeport-McMoRan by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 202,440 shares of the natural resource company’s stock valued at $10,393,000 after purchasing an additional 35,972 shares during the period. PFG Investments LLC boosted its holdings in Freeport-McMoRan by 10.0% in the third quarter. PFG Investments LLC now owns 22,627 shares of the natural resource company’s stock valued at $1,130,000 after purchasing an additional 2,062 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Freeport-McMoRan by 1.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 158,417 shares of the natural resource company’s stock valued at $7,908,000 after purchasing an additional 2,322 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Up 0.4 %

FCX opened at $37.11 on Tuesday. The business’s 50-day simple moving average is $38.46 and its 200-day simple moving average is $42.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24. The stock has a market capitalization of $53.33 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results 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%. Analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Sanford C. Bernstein lowered 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 report on Tuesday, January 7th. BMO Capital Markets decreased their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their price target for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target 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.