Deutsche Bank AG Acquires 1,539,124 Shares of Freeport-McMoRan Inc. (NYSE:FCX)
Deutsche Bank AG increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX[1] - Free Report[2]) by 39.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,469,258 shares of the natural resource company's stock after acquiring an additional 1,539,124 shares during the quarter. Deutsche Bank AG owned about 0.38% of Freeport-McMoRan worth £208,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of the business. Asset Planning Inc purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately £25,000. Mizuho Bank Ltd. purchased a new position in Freeport-McMoRan during the fourth quarter valued at £26,000.
Vision Financial Markets LLC bought a new stake in Freeport-McMoRan in the fourth quarter worth £27,000. Laurel Wealth Advisors LLC grew its stake in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth £28,000 after acquiring an additional 600 shares during the last quarter.
Finally, Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan during the fourth quarter valued at £28,000.
80.77% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently commented on FCX. StockNews.com[3] downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Raymond James reissued an "outperform" rating and set a £52.00 price target on shares of Freeport-McMoRan in a research report on Friday, April 25th. BMO Capital Markets lowered their price objective on Freeport-McMoRan from £54.00 to £50.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th.
Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Finally, Scotiabank lowered their price target on Freeport-McMoRan from £45.00 to £40.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock.
According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of £48.09.
References
- ^ NYSE:FCX (www.marketbeat.com)
- ^ Free Report (www.marketbeat.com)
- ^ StockNews.com (report.stocknews.com)