Freeport-McMoRan Inc. (NYSE:FCX) Stock Holdings Lifted by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,313 shares of the natural resource company’s stock after buying an additional 3,680 shares during the period. Twelve Points Wealth Management LLC’s holdings in Freeport-McMoRan were worth $1,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FCX. Matrix Trust Co bought a new position in shares of Freeport-McMoRan during the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Freeport-McMoRan in the second quarter worth $27,000. Laurel Wealth Advisors LLC lifted its stake in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the last quarter. Godsey & Gibb Inc. boosted its holdings in shares of Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 346 shares during the period. Finally, Continuum Advisory LLC grew its position in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 2.4 %

Shares of NYSE FCX opened at $35.80 on Wednesday. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a one year low of $35.46 and a one year high of $55.24. The business has a 50-day moving average price of $40.51 and a two-hundred day moving average price of $43.64. The firm has a market capitalization of $51.45 billion, a PE ratio of 26.13, a PEG ratio of 2.39 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. As a group, analysts predict that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FCX. Scotiabank reduced their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price target for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. Raymond James raised their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.