LS Investment Advisors LLC raised its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 30.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 46,474 shares of the natural resource company’s stock after buying an additional 10,760 shares during the quarter. LS Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $881,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. lifted its holdings in Freeport-McMoRan by 756.8% in the fourth quarter. Thompson Davis & CO. Inc. now owns 9,348 shares of the natural resource company’s stock valued at $177,000 after acquiring an additional 8,257 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Freeport-McMoRan in the third quarter valued at $140,000. Ballew Advisors Inc acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $190,000. Sowell Financial Services LLC acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $196,000. Finally, Rothschild Investment Corp IL acquired a new stake in Freeport-McMoRan in the third quarter valued at $147,000. 68.39% of the stock is owned by institutional investors.

A number of equities research analysts have commented on FCX shares. Clarkson Capital raised Freeport-McMoRan from a “neutral” rating to a “buy” rating in a report on Wednesday, January 17th. Zacks Investment Research raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, November 14th. FBR & Co reissued a “hold” rating and issued a $12.00 target price on shares of Freeport-McMoRan in a report on Thursday, October 26th. Deutsche Bank downgraded Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 target price for the company. in a report on Tuesday, October 17th. Finally, ValuEngine raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Freeport-McMoRan has an average rating of “Hold” and an average target price of $16.24.

In related news, VP C Donald Whitmire, Jr. sold 21,500 shares of Freeport-McMoRan stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the completion of the sale, the vice president now owns 70,239 shares in the company, valued at approximately $1,368,958.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.29% of the company’s stock.

Freeport-McMoRan Inc (FCX) opened at $17.80 on Wednesday. Freeport-McMoRan Inc has a 52-week low of $11.05 and a 52-week high of $20.25. The firm has a market capitalization of $25,434.15, a price-to-earnings ratio of 15.02 and a beta of 2.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.14 and a quick ratio of 1.37.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 25th. The natural resource company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the business posted $0.25 earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. sell-side analysts forecast that Freeport-McMoRan Inc will post 2.2 EPS for the current year.

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About Freeport-McMoRan

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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