Semanteon Capital Management LP Has $1.28 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Semanteon Capital Management LP lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 114.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,621 shares of the natural resource company’s stock after purchasing an additional 17,967 shares during the period. Semanteon Capital Management LP’s holdings in Freeport-McMoRan were worth $1,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FCX. Sanctuary Advisors LLC grew its holdings in Freeport-McMoRan by 9.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock worth $8,219,000 after acquiring an additional 14,501 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Freeport-McMoRan during the 3rd quarter worth $754,000. Madison Investment Advisors LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth $3,388,000. Principal Financial Group Inc. grew its holdings in Freeport-McMoRan by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock worth $84,085,000 after acquiring an additional 66,699 shares during the period. Finally, Czech National Bank grew its holdings in Freeport-McMoRan by 6.4% during the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock worth $11,864,000 after acquiring an additional 18,852 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FCX. Scotiabank reduced 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 report on Friday, January 24th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. BMO Capital Markets reduced 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 report on Friday, January 24th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $48.00 to $52.00 in a research report on Thursday. Six equities research 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 stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Trading Up 0.7 %

Shares of Freeport-McMoRan stock opened at $40.72 on Friday. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The firm has a market cap of $58.51 billion, a PE ratio of 31.56, a P/E/G ratio of 0.87 and a beta of 1.87. The stock has a fifty day moving average price of $38.00 and a 200-day moving average price of $41.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

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.