Foster Group Inc. Buys 379 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Foster Group Inc. lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,529 shares of the natural resource company’s stock after acquiring an additional 379 shares during the period. Foster Group Inc.’s holdings in Freeport-McMoRan were worth $1,239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FCX. Fisher Asset Management LLC boosted its position in shares of Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after buying an additional 1,392,494 shares during the period. Geode Capital Management LLC grew its position in Freeport-McMoRan by 1.9% in the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after purchasing an additional 529,099 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after buying an additional 2,366,187 shares during the last quarter. Mountaineer Partners Management LLC raised its holdings in Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after acquiring an additional 11,687,982 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Freeport-McMoRan by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company’s stock worth $410,494,000 after buying an additional 127,251 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FCX. Raymond James lifted their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Eight equities 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Trading Down 2.4 %

Shares of Freeport-McMoRan stock opened at $35.80 on Wednesday. Freeport-McMoRan Inc. has a 1 year low of $35.46 and a 1 year high of $55.24. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $51.45 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. The firm’s 50 day moving average is $40.51 and its 200 day moving average is $43.64.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data 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 7.40% and a net margin of 7.81%. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal 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.