Metis Global Partners LLC Has $5.15 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Metis Global Partners LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX[1] - Free Report[2]) by 10.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,129 shares of the natural resource company's stock after acquiring an additional 12,448 shares during the period. Metis Global Partners LLC's holdings in Freeport-McMoRan were worth £5,146,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its position in 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 acquiring an additional 14,501 shares during the last quarter.

Easterly Investment Partners LLC lifted its position in 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 acquiring an additional 85,542 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Freeport-McMoRan during the 3rd quarter worth £754,000.

Summit Global Investments lifted its position in 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 acquiring an additional 71,883 shares during the last quarter. Finally, AIA Group Ltd lifted its position in 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 acquiring an additional 12,887 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock[3] opened at £36.92 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 £53.05 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 0.87 and a beta of 1.85. Freeport-McMoRan Inc. has a 1-year low of £34.89 and a 1-year high of £55.24. The firm's 50-day moving average price is £38.31 and its two-hundred day moving average price is £42.59.

Freeport-McMoRan (NYSE:FCX[4] - Get Free Report[5]) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported £0.31 earnings per share for the quarter, missing the consensus estimate 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, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FCX shares. Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. BMO Capital Markets dropped their price objective on shares of Freeport-McMoRan from £54.00 to £50.00 and set an "outperform" rating on the stock in a report on Friday, January 24th.

Scotiabank dropped their price objective on shares of Freeport-McMoRan from £48.00 to £45.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and boosted their price objective for the stock from £40.00 to £48.00 in a report on Thursday. Finally, Sanford C.

Bernstein downgraded shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from £51.00 to £46.00 in a report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and an average price target of £52.04.

Read Our Latest Analysis on Freeport-McMoRan[6]

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.

See Also

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com[8] to get the latest 13F filings and insider trades for Freeport-McMoRan Inc. (NYSE:FCX[9] - Free Report[10]).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication.

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References

1. ^ NYSE:FCX (www.marketbeat.com)
2. ^ Free Report (www.marketbeat.com)
3. ^ Freeport-McMoRan stock (www.marketbeat.com)
4. ^ NYSE:FCX (www.marketbeat.com)
5. ^ Get Free Report (www.marketbeat.com)
6. ^ Read Our Latest Analysis on Freeport-McMoRan (www.marketbeat.com)
7. ^ Free Report (www.marketbeat.com)
8. ^ Visit HoldingsChannel.com (www.holdingschannel.com)
9. ^ NYSE:FCX (www.marketbeat.com)
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