Commerzbank Aktiengesellschaft FI Raises Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Commerzbank Aktiengesellschaft FI increased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 37.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,444 shares of the natural resource company’s stock after purchasing an additional 3,130 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Freeport-McMoRan were worth $437,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Planning Inc purchased a new stake in Freeport-McMoRan in the fourth quarter worth approximately $25,000. Laurel Wealth Advisors LLC boosted its holdings in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan in the fourth quarter worth approximately $28,000. Continuum Advisory LLC boosted its holdings in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Freeport-McMoRan in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

FCX has been the topic of several research reports. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. BMO Capital Markets dropped their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Scotiabank dropped their price target 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. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $38.16 on Thursday. 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 company has a market cap of $54.83 billion, a P/E ratio of 29.58, a P/E/G ratio of 0.87 and a beta of 1.87. The firm’s fifty day moving average is $38.15 and its two-hundred day moving average is $42.48. Freeport-McMoRan Inc. has a 52-week low of $34.26 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results 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%. As a group, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

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.