Sei Investments Co. Purchases 83,490 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Sei Investments Co. increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 799,649 shares of the natural resource company’s stock after buying an additional 83,490 shares during the period. Sei Investments Co.’s holdings in Freeport-McMoRan were worth $30,451,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Asset Planning Inc bought a new position in Freeport-McMoRan during the fourth quarter worth $25,000. Vision Financial Markets LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC grew its stake in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the period. Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $43.08 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a market cap of $61.91 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The firm’s 50-day simple moving average is $38.15 and its two-hundred day simple moving average is $42.00.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 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%. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FCX shares. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

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.