Curated Wealth Partners LLC Reduces Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Curated Wealth Partners LLC lowered its position in Freeport-McMoRan Inc. (NYSE:FCX) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,552 shares of the natural resource company’s stock after selling 1,649 shares during the quarter. Curated Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $554,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC grew its holdings in Freeport-McMoRan by 2.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock valued at $2,965,717,000 after purchasing an additional 1,392,494 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Freeport-McMoRan by 1.9% during the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after buying an additional 529,099 shares during the period. Franklin Resources Inc. grew its stake in shares of Freeport-McMoRan by 9.5% during the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after buying an additional 2,366,187 shares during the last quarter. Mountaineer Partners Management LLC raised its holdings in shares of Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after buying an additional 11,687,982 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Freeport-McMoRan by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 10,343,109 shares of the natural resource company’s stock worth $502,675,000 after acquiring an additional 56,499 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.9 %

Shares of NYSE:FCX opened at $37.78 on Friday. The company has a market capitalization of $54.29 billion, a PE ratio of 27.58, a P/E/G ratio of 2.39 and a beta of 1.87. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12-month low of $36.26 and a 12-month high of $55.24. The business’s fifty day simple moving average is $40.81 and its 200-day simple moving average is $43.95.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Raymond James upped their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their price target for the stock from $48.00 to $40.00 in a report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. 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. Finally, Scotiabank reduced their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average 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.