Adams Natural Resources Fund Inc. Has $9.88 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Adams Natural Resources Fund Inc. grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 259,400 shares of the natural resource company’s stock after purchasing an additional 5,000 shares during the period. Freeport-McMoRan makes up approximately 1.6% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 18th largest holding. Adams Natural Resources Fund Inc.’s holdings in Freeport-McMoRan were worth $9,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Freeport-McMoRan by 240.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock valued at $3,994,000 after purchasing an additional 56,475 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Freeport-McMoRan by 4.2% during the third quarter. PNC Financial Services Group Inc. now owns 228,860 shares of the natural resource company’s stock worth $11,425,000 after buying an additional 9,153 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Freeport-McMoRan by 26.0% during the third quarter. Jennison Associates LLC now owns 312,201 shares of the natural resource company’s stock worth $15,585,000 after buying an additional 64,350 shares in the last quarter. Cornerstone Advisors LLC raised its stake in shares of Freeport-McMoRan by 42.5% in the third quarter. Cornerstone Advisors LLC now owns 11,400 shares of the natural resource company’s stock valued at $569,000 after acquiring an additional 3,400 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in shares of Freeport-McMoRan by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 20,303 shares of the natural resource company’s stock worth $1,014,000 after acquiring an additional 323 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $40.31 on Friday. 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 $57.93 billion, a P/E ratio of 31.25, a PEG ratio of 0.87 and a beta of 1.87. The business has a 50-day moving average of $38.03 and a 200-day moving average of $41.96. 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 earnings results 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%. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on FCX. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $48.00 to $52.00 in a research note on Thursday. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, BMO Capital Markets lowered their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

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.