Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC decreased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 58.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,617 shares of the natural resource company’s stock after selling 10,879 shares during the quarter. Edge Capital Group LLC’s holdings in Freeport-McMoRan were worth $290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Planning Inc purchased a new stake in Freeport-McMoRan during the 4th quarter worth about $25,000. Laurel Wealth Advisors LLC raised its position in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan during the fourth quarter worth approximately $28,000. Financial Life Planners acquired a new position in Freeport-McMoRan in the fourth quarter valued at approximately $36,000. Finally, Continuum Advisory LLC increased its stake in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.4 %

NYSE:FCX opened at $37.11 on Tuesday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock’s 50 day simple moving average is $38.46 and its 200-day simple moving average is $42.72. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24. The firm has a market cap of $53.33 billion, a P/E ratio of 28.77, a PEG ratio of 0.87 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

FCX has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their price objective for the company from $48.00 to $40.00 in a research note on Friday, January 24th. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Scotiabank decreased their target price 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. Nine 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

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.