Pine Valley Investments Ltd Liability Co Has $366,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

Pine Valley Investments Ltd Liability Co decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,614 shares of the natural resource company’s stock after selling 692 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Freeport-McMoRan were worth $366,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCX. Sanctuary Advisors LLC raised its position in Freeport-McMoRan by 9.7% in the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock worth $8,219,000 after purchasing an additional 14,501 shares in the last quarter. Easterly Investment Partners LLC grew its stake in shares of Freeport-McMoRan by 137.5% in the 3rd quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock valued at $7,375,000 after purchasing an additional 85,542 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Freeport-McMoRan in the 3rd quarter worth approximately $754,000. Summit Global Investments lifted its position in shares of Freeport-McMoRan by 1,559.3% during the 3rd quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock worth $3,819,000 after buying an additional 71,883 shares during the period. Finally, AIA Group Ltd boosted its stake in Freeport-McMoRan by 16.2% in the 3rd quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock valued at $4,604,000 after buying an additional 12,887 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Up 3.4 %

NYSE FCX opened at $38.03 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24. The stock has a market capitalization of $54.64 billion, a P/E ratio of 29.48, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The stock has a fifty day moving average of $38.37 and a 200-day moving average of $42.66.

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%. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their target price for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Scotiabank dropped their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.