Semanteon Capital Management LP Increases Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Semanteon Capital Management LP lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 114.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,621 shares of the natural resource company’s stock after purchasing an additional 17,967 shares during the quarter. Semanteon Capital Management LP’s holdings in Freeport-McMoRan were worth $1,280,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Palogic Value Management L.P. increased its stake in Freeport-McMoRan by 1.5% in the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock worth $772,000 after purchasing an additional 292 shares during the period. Holderness Investments Co. increased its stake in Freeport-McMoRan by 22.7% in the 4th quarter. Holderness Investments Co. now owns 10,578 shares of the natural resource company’s stock worth $403,000 after purchasing an additional 1,958 shares during the period. Whittier Trust Co. grew its position in shares of Freeport-McMoRan by 18.5% in the 4th quarter. Whittier Trust Co. now owns 5,770 shares of the natural resource company’s stock worth $220,000 after buying an additional 899 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth approximately $406,000. Finally, Lingohr Asset Management GmbH bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth approximately $237,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Up 0.7 %

Shares of NYSE FCX opened at $40.72 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 stock has a market capitalization of $58.51 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The stock’s fifty day simple moving average is $38.00 and its two-hundred day simple moving average is $41.99. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets cut their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Thursday, March 6th. Scotiabank cut their price objective on 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. Finally, StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.