Kestra Private Wealth Services LLC Raises Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Kestra Private Wealth Services LLC raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 61,740 shares of the natural resource company’s stock after acquiring an additional 3,167 shares during the period. Kestra Private Wealth Services LLC’s holdings in Freeport-McMoRan were worth $2,351,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Stephens Inc. AR lifted its stake in Freeport-McMoRan by 4.8% in the 4th quarter. Stephens Inc. AR now owns 54,429 shares of the natural resource company’s stock valued at $2,073,000 after buying an additional 2,493 shares in the last quarter. Empirical Finance LLC increased its position in Freeport-McMoRan by 20.5% during the 4th 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 in the last quarter. Empowered Funds LLC raised its stake in Freeport-McMoRan by 12.1% in the 4th quarter. Empowered Funds LLC now owns 233,385 shares of the natural resource company’s stock valued at $8,887,000 after purchasing an additional 25,143 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in Freeport-McMoRan by 5.5% in the 4th quarter. Apollon Wealth Management LLC now owns 39,486 shares of the natural resource company’s stock valued at $1,504,000 after purchasing an additional 2,055 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its position in shares of Freeport-McMoRan by 4.2% in the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 13,088 shares of the natural resource company’s stock valued at $498,000 after buying an additional 525 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Scotiabank cut their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. BMO Capital Markets lowered their price objective 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. Finally, Raymond James raised their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $37.62 on Wednesday. The company has a 50-day simple moving average of $39.13 and a 200 day simple moving average of $42.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The company has a market capitalization of $54.05 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released 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%. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current year.

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.