Bradley Foster & Sargent Inc. CT Has $1.29 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Bradley Foster & Sargent Inc. CT trimmed its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,985 shares of the natural resource company’s stock after selling 1,231 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Freeport-McMoRan were worth $1,294,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC bought a new stake in Freeport-McMoRan during the fourth quarter valued at about $218,000. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in Freeport-McMoRan by 3.6% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 16,136 shares of the natural resource company’s stock valued at $616,000 after acquiring an additional 555 shares during the period. Boston Financial Mangement LLC boosted its holdings in Freeport-McMoRan by 22.9% during the fourth quarter. Boston Financial Mangement LLC now owns 5,272 shares of the natural resource company’s stock valued at $201,000 after acquiring an additional 981 shares during the period. Mader & Shannon Wealth Management Inc. bought a new stake in Freeport-McMoRan during the fourth quarter valued at about $1,084,000. Finally, Ieq Capital LLC boosted its holdings in Freeport-McMoRan by 18.6% during the fourth quarter. Ieq Capital LLC now owns 76,538 shares of the natural resource company’s stock valued at $2,915,000 after acquiring an additional 11,984 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $36.97 on Friday. The stock’s fifty day simple moving average is $38.53 and its 200 day simple moving average is $42.72. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24. The firm has a market cap of $53.13 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 0.87 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 (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. On average, analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on FCX. 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 report on Thursday, January 16th. Sanford C. Bernstein cut 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 report on Tuesday, January 7th. BMO Capital Markets decreased their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price target for the company from $48.00 to $40.00 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 given a strong buy rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus target price of $51.46.

About Freeport-McMoRan

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.