Bank Pictet & Cie Europe AG Acquires 115,552 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Bank Pictet & Cie Europe AG increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 27.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 540,046 shares of the natural resource company’s stock after acquiring an additional 115,552 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Freeport-McMoRan were worth $20,565,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Godsey & Gibb Inc. raised its position in Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Asset Planning Inc bought a new stake in Freeport-McMoRan during the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC raised its position in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares in the last quarter. Continuum Advisory LLC raised its position in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Freeport-McMoRan in the 3rd quarter worth $46,000. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Down 1.9 %

Freeport-McMoRan stock opened at $39.46 on Friday. 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 business’s 50-day simple moving average is $38.93 and its two-hundred day simple moving average is $42.87. The company has a market cap of $56.69 billion, a PE ratio of 30.59, a PEG ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a fifty-two week low of $34.89 and a fifty-two week high of $55.24.

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 net margin of 7.42% and a return on equity of 7.50%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price target for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. BMO Capital Markets reduced their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Scotiabank reduced their price target on 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. JPMorgan Chase & Co. reduced their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Raymond James boosted their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

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.