Fourpath Capital Management LLC Raises Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Fourpath Capital Management LLC boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 14.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,336 shares of the natural resource company’s stock after purchasing an additional 788 shares during the period. Fourpath Capital Management LLC’s holdings in Freeport-McMoRan were worth $241,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FCX. Koshinski Asset Management Inc. raised its holdings in shares of Freeport-McMoRan by 1.0% in the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock valued at $1,037,000 after acquiring an additional 214 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Freeport-McMoRan by 5.2% in the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock worth $228,000 after purchasing an additional 228 shares during the period. Fidelis Capital Partners LLC boosted its stake in shares of Freeport-McMoRan by 2.0% during the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock valued at $560,000 after purchasing an additional 231 shares in the last quarter. Prospera Private Wealth LLC increased its holdings in Freeport-McMoRan by 4.4% during the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after buying an additional 234 shares during the period. Finally, Continuum Advisory LLC raised its stake in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $36.49 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The stock has a 50-day moving average of $39.75 and a two-hundred day moving average of $43.21. The stock has a market cap of $52.43 billion, a P/E ratio of 28.29, a P/E/G ratio of 0.85 and a beta of 1.85. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. As a group, research analysts predict that Freeport-McMoRan Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Raymond James increased their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets decreased their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.