Freeport-McMoRan Inc. (NYSE:FCX) Stake Boosted by Private Wealth Partners LLC

Private Wealth Partners LLC increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,627 shares of the natural resource company’s stock after acquiring an additional 6,475 shares during the period. Private Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $9,849,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FCX. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $25,000. Laurel Wealth Advisors LLC raised its position in Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC acquired a new stake in Freeport-McMoRan in the fourth quarter valued at approximately $28,000. Financial Life Planners bought a new stake in Freeport-McMoRan in the fourth quarter worth approximately $36,000. Finally, Continuum Advisory LLC increased its stake in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $38.58 on Thursday. The company’s fifty day moving average is $38.68 and its two-hundred day moving average is $42.76. The firm has a market capitalization of $55.44 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 0.88 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 52-week low of $34.89 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its 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 return on equity of 7.50% and a net margin of 7.42%. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analyst Ratings Changes

FCX has been the subject of several analyst reports. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Scotiabank reduced their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price target for the company from $48.00 to $40.00 in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock 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.