Generali Investments Management Co LLC Invests $596,000 in Freeport-McMoRan Inc. (NYSE:FCX)

Generali Investments Management Co LLC purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 15,651 shares of the natural resource company’s stock, valued at approximately $596,000.

Other large investors have also made changes to their positions in the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth $25,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC increased its position in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth $29,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $39.82 on Wednesday. The stock has a 50-day simple moving average of $37.97 and a two-hundred day simple moving average of $42.01. The firm has a market capitalization of $57.23 billion, a P/E ratio of 30.87, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a fifty-two week low of $33.98 and a fifty-two week 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.

Freeport-McMoRan (NYSE:FCX) last released 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 net margin of 7.42% and a return on equity of 7.50%. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Sanford C. Bernstein downgraded 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. Finally, Scotiabank cut their target price 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. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.