Commerzbank Aktiengesellschaft FI Raises Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Commerzbank Aktiengesellschaft FI grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 37.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,444 shares of the natural resource company’s stock after acquiring an additional 3,130 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Freeport-McMoRan were worth $437,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its stake in shares of Freeport-McMoRan by 9.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock worth $8,219,000 after purchasing an additional 14,501 shares during the period. Easterly Investment Partners LLC boosted its stake in shares of Freeport-McMoRan by 137.5% during the 3rd quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock worth $7,375,000 after purchasing an additional 85,542 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Freeport-McMoRan during the 3rd quarter worth about $754,000. Summit Global Investments boosted its stake in shares of Freeport-McMoRan by 1,559.3% during the 3rd quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock worth $3,819,000 after purchasing an additional 71,883 shares during the period. Finally, AIA Group Ltd boosted its stake in shares of Freeport-McMoRan by 16.2% during the 3rd quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock worth $4,604,000 after purchasing an additional 12,887 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 9.3 %

NYSE:FCX opened at $38.16 on Thursday. Freeport-McMoRan Inc. has a one year low of $34.26 and a one year high of $55.24. 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 firm has a market cap of $54.83 billion, a P/E ratio of 29.58, a P/E/G ratio of 0.87 and a beta of 1.87. The firm has a 50-day simple moving average of $38.15 and a 200-day simple moving average of $42.48.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly 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%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FCX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Scotiabank lowered 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. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets lowered their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

About Freeport-McMoRan

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.