Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 7,256 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 305,534 shares of the natural resource company’s stock after selling 7,256 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Freeport-McMoRan were worth $11,635,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Continuum Advisory LLC boosted its position in Freeport-McMoRan by 46.8% during the third 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 period. PFG Investments LLC boosted its position in Freeport-McMoRan by 1.3% during the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after purchasing an additional 283 shares during the period. Larson Financial Group LLC boosted its position in Freeport-McMoRan by 14.6% during the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after purchasing an additional 287 shares during the period. SeaCrest Wealth Management LLC boosted its position in Freeport-McMoRan by 1.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock worth $727,000 after purchasing an additional 307 shares during the period. Finally, King Luther Capital Management Corp lifted its holdings in shares of Freeport-McMoRan by 1.6% during the third quarter. King Luther Capital Management Corp now owns 20,303 shares of the natural resource company’s stock worth $1,014,000 after buying an additional 323 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $40.31 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock has a fifty day moving average price of $38.03 and a two-hundred day moving average price of $41.96. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24. The firm has a market capitalization of $57.93 billion, a P/E ratio of 31.25, a P/E/G ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) 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%. As a group, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FCX shares. 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. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. 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. JPMorgan Chase & Co. upgraded Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $48.00 to $52.00 in a report on Thursday. Finally, Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

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.