Maryland State Retirement & Pension System Has $2.91 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Maryland State Retirement & Pension System lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,435 shares of the natural resource company’s stock after selling 5,392 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Freeport-McMoRan were worth $2,911,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Prospera Private Wealth LLC boosted its holdings in shares of Freeport-McMoRan by 4.4% in the 3rd 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 last quarter. Continuum Advisory LLC boosted its holdings in shares of 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 last quarter. PFG Investments LLC boosted its holdings in shares of Freeport-McMoRan by 1.3% in the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after buying an additional 283 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Freeport-McMoRan by 14.6% in the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock valued at $112,000 after buying an additional 287 shares during the last quarter. Finally, SeaCrest Wealth Management LLC lifted its holdings in Freeport-McMoRan by 1.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock valued at $727,000 after purchasing an additional 307 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 0.7 %

Shares of NYSE FCX opened at $40.72 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The stock has a market capitalization of $58.51 billion, a P/E ratio of 31.56, a PEG ratio of 0.87 and a beta of 1.87. The stock’s fifty day moving average is $38.00 and its 200 day moving average is $41.99.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly 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%. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCX. BMO Capital Markets cut their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price target for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Scotiabank cut their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

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.