Vetr upgraded shares of Freeport-McMoRan Inc (NYSE:FCX) from a buy rating to a strong-buy rating in a report released on Monday morning, Analyst Ratings Net reports. They currently have $4.53 price objective on the natural resource company’s stock.

Several institutional investors recently added to or reduced their stakes in FCX. Kessler Investment Group LLC raised its position in 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 in the last quarter. Nordea Investment Management AB raised its position in 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 in the last quarter. Finally, Longer Investments Inc. bought a new position in Freeport-McMoRan during the fourth quarter worth about $921,000.

Other analysts have also recently issued reports about the company. Cowen and Company reiterated an outperform rating and issued a $20.00 price objective on shares of Freeport-McMoRan in a research note on Wednesday, December 9th. RBC Capital increased their price objective 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. Scotiabank reduced their price objective on Freeport-McMoRan from $25.00 to $14.50 in a research note on Tuesday, September 29th. FBR & Co. reiterated a hold rating on shares of Freeport-McMoRan in a research note on Friday, December 11th. Finally, Citigroup Inc. reiterated a hold rating on shares of Freeport-McMoRan in a research note on Tuesday, October 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Freeport-McMoRan currently has an average rating of Hold and an average target price of $15.37.

Freeport-McMoRan (NYSE:FCX) opened at 3.94 on Monday. The firm’s market cap is $4.55 billion. The stock has a 50 day moving average price of $5.87 and a 200 day moving average price of $9.81. Freeport-McMoRan has a one year low of $3.52 and a one year high of $23.97.

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

To view Vetr’s full report, visit Vetr’s official website.

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