Freeport-McMoRan Inc (NYSE:FCX) had its price target upped by BMO Capital Markets from $4.50 to $5.00 in a report published on Wednesday, StockTargetPrices.com reports.

Other hedge funds have made changes to their positions in the company. Longer Investments Inc. acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $921,000. Nordea Investment Management AB boosted its stake in shares of Freeport-McMoRan by 921.9% in the fourth quarter. Nordea Investment Management AB now owns 321,766 shares of the natural resource company’s stock worth $2,178,000 after buying an additional 290,279 shares during the period. Kessler Investment Group LLC boosted its stake in shares of Freeport-McMoRan by 38.0% in the fourth quarter. Kessler Investment Group LLC now owns 57,609 shares of the natural resource company’s stock worth $390,000 after buying an additional 15,857 shares during the period. Beech Hill Advisors Inc. boosted its stake in shares of Freeport-McMoRan by 10.6% in the fourth quarter. Beech Hill Advisors Inc. now owns 40,600 shares of the natural resource company’s stock worth $275,000 after buying an additional 3,900 shares during the period. Finally, Gateway Investment Advisers LLC boosted its stake in shares of Freeport-McMoRan by 17.8% in the fourth quarter. Gateway Investment Advisers LLC now owns 783,688 shares of the natural resource company’s stock worth $5,306,000 after buying an additional 118,518 shares during the period.

Several other equities research analysts have also commented on FCX. Vetr raised Freeport-McMoRan from a buy rating to a strong-buy rating and set a $4.53 price target on the stock in a research note on Monday. FBR & Co. reduced their target price on Freeport-McMoRan from $10.00 to $8.00 and set a market perform rating on the stock in a research note on Thursday, December 10th. Macquarie lowered Freeport-McMoRan from an outperform rating to a neutral rating and reduced their target price for the company from $18.00 to $7.30 in a research note on Friday, January 8th. RBC Capital upped their target price on Freeport-McMoRan from $14.00 to $15.00 and gave the company a sector perform rating in a research note on Tuesday, October 27th. Finally, Deutsche Bank lowered Freeport-McMoRan from a buy rating to a hold rating and reduced their target price for the company from $17.00 to $11.00 in a research note on Monday, October 5th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $14.41.

Freeport-McMoRan (NYSE:FCX) traded down 4.95% on Wednesday, reaching $4.42. The company’s stock had a trading volume of 66,864,954 shares. The stock’s market capitalization is $5.20 billion. The firm has a 50 day moving average price of $5.71 and a 200 day moving average price of $9.68. Freeport-McMoRan has a 52 week low of $3.52 and a 52 week high of $23.97.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Tuesday, January 26th. The natural resource company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.15. During the same period last year, the firm earned $0.25 EPS. The firm had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Freeport-McMoRan’s revenue was down 27.5% compared to the same quarter last year. On average, equities analysts anticipate that Freeport-McMoRan will post $0.15 EPS for the current year.

Freeport-McMoRan Inc. (NYSE:FCX) is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile. FCX has organized its operations into six primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining, Molybdenum mines, and United States oil and gas operations. The Company’s portfolio of assets includes the Grasberg minerals district in Indonesia, mining operations in North and South America, the Tenke Fungurume (Tenke) minerals district in the Democratic Republic of Congo (DRC) in Africa, and oil and natural gas assets in North America. The Company is also engaged in operating copper conversion facilities located in North America, and a refinery, three rod mills and a specialty copper products facility. The Company’s Atlantic Copper smelts and refines copper concentrates and markets refined copper and precious metals in slimes.

12 Month Chart for NYSE:FCX

Stock Target Prices

Frustrated with your broker? Are you tired of paying high fees? Do you feel like you are getting ripped off by your stock broker? It's time for a change. Find out which brokerage is best for your personal trading style at the InvestorPlace Broker Center. Compare brokers at a glance in the InvestorPlace Broker Center (Click Here).

Receive News & Ratings for Freeport-McMoRan Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan Inc and related companies with MarketBeat.com's FREE daily email newsletter.