Quilter Plc Acquires 1,294 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Quilter Plc grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,919 shares of the natural resource company’s stock after purchasing an additional 1,294 shares during the quarter. Quilter Plc’s holdings in Freeport-McMoRan were worth $720,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wingate Wealth Advisors Inc. bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $39,000. Savant Capital LLC raised its position in shares of Freeport-McMoRan by 18.7% during the fourth quarter. Savant Capital LLC now owns 32,588 shares of the natural resource company’s stock worth $1,241,000 after purchasing an additional 5,143 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Freeport-McMoRan by 5.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 61,740 shares of the natural resource company’s stock worth $2,351,000 after purchasing an additional 3,167 shares during the period. Stephens Inc. AR raised its position in shares of Freeport-McMoRan by 4.8% during the fourth quarter. Stephens Inc. AR now owns 54,429 shares of the natural resource company’s stock worth $2,073,000 after purchasing an additional 2,493 shares during the period. Finally, Empirical Finance LLC raised its position in shares of Freeport-McMoRan by 20.5% during the fourth quarter. Empirical Finance LLC now owns 59,495 shares of the natural resource company’s stock worth $2,266,000 after purchasing an additional 10,108 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FCX has been the topic of a number of research reports. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their target price for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Raymond James increased their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Scotiabank lowered 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. Finally, Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Trading Up 3.0 %

Shares of Freeport-McMoRan stock opened at $38.27 on Monday. 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 has a market cap of $54.98 billion, a PE ratio of 29.66, a P/E/G ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24. The stock has a fifty day moving average price of $39.36 and a 200-day moving average price of $43.05.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly 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%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

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.