NEXT Financial Group Inc boosted its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 60.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,100 shares of the natural resource company’s stock after buying an additional 8,736 shares during the period. NEXT Financial Group Inc’s holdings in Freeport-McMoRan were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FCX. Federated Investors Inc. PA increased its stake in Freeport-McMoRan by 19.4% in the 2nd quarter. Federated Investors Inc. PA now owns 57,310 shares of the natural resource company’s stock worth $688,000 after buying an additional 9,299 shares in the last quarter. Schroder Investment Management Group increased its stake in Freeport-McMoRan by 2,015.5% in the 2nd quarter. Schroder Investment Management Group now owns 11,487 shares of the natural resource company’s stock worth $139,000 after buying an additional 10,944 shares in the last quarter. Eaton Vance Management increased its stake in Freeport-McMoRan by 24.5% in the 2nd quarter. Eaton Vance Management now owns 200,120 shares of the natural resource company’s stock worth $2,403,000 after buying an additional 39,323 shares in the last quarter. Alliancebernstein L.P. increased its stake in Freeport-McMoRan by 3.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,463,468 shares of the natural resource company’s stock worth $29,586,000 after buying an additional 80,466 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its stake in Freeport-McMoRan by 74.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 32,139 shares of the natural resource company’s stock worth $386,000 after buying an additional 13,729 shares in the last quarter. Institutional investors and hedge funds own 68.06% of the company’s stock.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, November 14th. ValuEngine upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. Jefferies Group restated a “buy” rating and set a $19.00 price objective (down previously from $23.00) on shares of Freeport-McMoRan in a research report on Wednesday, October 4th. Morgan Stanley upgraded Freeport-McMoRan from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $10.00 to $14.00 in a research report on Monday, December 11th. Finally, Royal Bank of Canada set a $14.00 price objective on Freeport-McMoRan and gave the company a “hold” rating in a research report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.80.

Freeport-McMoRan Inc (NYSE FCX) opened at $19.32 on Wednesday. The company has a market capitalization of $28,589.90, a PE ratio of 26.11 and a beta of 2.53. Freeport-McMoRan Inc has a 12-month low of $11.05 and a 12-month high of $20.07. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.02 and a quick ratio of 1.32.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Wednesday, October 25th. The natural resource company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.06 billion. Freeport-McMoRan had a return on equity of 13.35% and a net margin of 6.20%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. analysts expect that Freeport-McMoRan Inc will post 1.09 EPS for the current year.

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Freeport-McMoRan Company Profile

Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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