Lingohr Asset Management GmbH Makes New $237,000 Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Lingohr Asset Management GmbH bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,230 shares of the natural resource company’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Asset Planning Inc purchased a new stake in Freeport-McMoRan in the fourth quarter worth $25,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan during the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC boosted its position in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the period. Roxbury Financial LLC bought a new position in Freeport-McMoRan in the 4th quarter worth about $28,000. Finally, Continuum Advisory LLC increased its position in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 1.4 %

NYSE FCX opened at $40.41 on Thursday. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The company has a fifty day simple moving average of $37.99 and a two-hundred day simple moving average of $42.00. 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 cap of $58.08 billion, a P/E ratio of 31.33, a P/E/G ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS 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%. On average, analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price target for the company from $40.00 to $48.00 in a report on Thursday, February 27th. BMO Capital Markets lowered their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday. 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 note on Friday, January 24th. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.