Secured Retirement Advisors LLC Increases Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Secured Retirement Advisors LLC grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 10.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 49,213 shares of the natural resource company’s stock after acquiring an additional 4,744 shares during the period. Secured Retirement Advisors LLC’s holdings in Freeport-McMoRan were worth $1,874,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Trust Co. of Vermont grew its position in 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 valued at $228,000 after acquiring an additional 228 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Freeport-McMoRan by 2.0% in 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 lifted its holdings in Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after buying an additional 234 shares in the last quarter. Continuum Advisory LLC boosted its position in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares during the period. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Freeport-McMoRan by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock worth $2,518,000 after acquiring an additional 244 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of FCX opened at $39.46 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $38.93 and its two-hundred day moving average is $42.86. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The firm has a market capitalization of $56.69 billion, a PE ratio of 30.59, a P/E/G ratio of 0.81 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FCX has been the topic of several recent research reports. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their target price for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets reduced their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, Scotiabank lowered 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. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Company 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.