Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,837 shares of the natural resource company’s stock after selling 1,193 shares during the period. TD Private Client Wealth LLC’s holdings in Freeport-McMoRan were worth $451,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the period. Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan during the 4th quarter valued at about $29,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 3.5 %

NYSE FCX opened at $41.66 on Tuesday. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The company has a market capitalization of $59.87 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. 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 firm’s fifty day moving average price is $38.08 and its 200 day moving average price is $41.97.

Freeport-McMoRan (NYSE:FCX) last posted its 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%. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

FCX has been the topic of several research reports. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. 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 research report on Friday, January 24th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. Finally, Scotiabank reduced their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.