Freeport-McMoRan Inc. $FCX Shares Bought by Lansdowne Partners UK LLP

Lansdowne Partners UK LLP lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX[1] - Free Report[2]) by 100.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 558,290 shares of the natural resource company's stock after buying an additional 279,328 shares during the period. Freeport-McMoRan comprises about 3.0% of Lansdowne Partners UK LLP's portfolio, making the stock its 8th biggest holding.

Lansdowne Partners UK LLP's holdings in Freeport-McMoRan were worth £21,137,000 at the end of the most recent quarter. Other hedge funds and other institutional investors have also bought and sold shares of the company. Stratos Investment Management LLC grew its position in Freeport-McMoRan by 238.5% during the 1st quarter.

Stratos Investment Management LLC now owns 64,519 shares of the natural resource company's stock worth £2,443,000 after acquiring an additional 45,458 shares during the last quarter. Community Bank N.A. grew its position in Freeport-McMoRan by 18.5% during the 1st quarter. Community Bank N.A. now owns 39,571 shares of the natural resource company's stock worth £1,498,000 after acquiring an additional 6,188 shares during the last quarter.

Arizona State Retirement System grew its position in Freeport-McMoRan by 2.2% during the 1st quarter. Arizona State Retirement System now owns 421,469 shares of the natural resource company's stock worth £15,957,000 after acquiring an additional 8,989 shares during the last quarter. Financial Sense Advisors Inc. grew its position in Freeport-McMoRan by 527.9% during the 1st quarter.

Financial Sense Advisors Inc. now owns 76,127 shares of the natural resource company's stock worth £2,882,000 after acquiring an additional 64,003 shares during the last quarter. Finally, Anderson Hoagland & Co. grew its position in Freeport-McMoRan by 27.6% during the 1st quarter. Anderson Hoagland & Co. now owns 109,565 shares of the natural resource company's stock worth £4,148,000 after acquiring an additional 23,695 shares during the last quarter.

Institutional investors own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FCX shares. UBS Group lowered Freeport-McMoRan from a "buy" rating to a "neutral" rating and upped their price target for the company from £45.00 to £50.00 in a research report on Friday, July 11th. Stifel Nicolaus started coverage on Freeport-McMoRan in a research report on Wednesday, July 9th.

They issued a "buy" rating and a £56.00 price target on the stock. Scotiabank upped their price target on Freeport-McMoRan from £48.00 to £52.00 and gave the company a "sector outperform" rating in a research report on Wednesday, July 9th. BMO Capital Markets reduced their price target on Freeport-McMoRan from £55.00 to £54.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th.

Finally, Citigroup upped their price target on Freeport-McMoRan from £44.00 to £48.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th.

Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company.

According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of £51.00.

References

1. ^ NYSE:FCX (www.marketbeat.com)
2. ^ Free Report (www.marketbeat.com)