Stevens Capital Management LP Acquires 20,213 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Stevens Capital Management LP grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 421.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,005 shares of the natural resource company’s stock after acquiring an additional 20,213 shares during the quarter. Stevens Capital Management LP’s holdings in Freeport-McMoRan were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their target price for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Finally, StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating 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. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $40.31 on Friday. The firm has a market cap of $57.93 billion, a PE ratio of 31.25, a PEG ratio of 0.87 and a beta of 1.87. The stock’s fifty day moving average price is $38.03 and its two-hundred day moving average price is $41.97. 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 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 earnings per share (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 research analysts forecast 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.