Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Requisite Capital Management LLC

Requisite Capital Management LLC decreased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,727 shares of the natural resource company’s stock after selling 1,848 shares during the quarter. Requisite Capital Management LLC’s holdings in Freeport-McMoRan were worth $370,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FCX. Matrix Trust Co acquired a new position in Freeport-McMoRan in the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Freeport-McMoRan during the 2nd quarter valued at approximately $27,000. Godsey & Gibb Inc. grew its stake in Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after buying an additional 600 shares during the period. Finally, Continuum Advisory LLC lifted 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 buying an additional 236 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $48.00 to $40.00 in a report on Friday. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank decreased their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday. JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, BMO Capital Markets decreased their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Price Performance

NYSE FCX opened at $37.78 on Friday. 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 1 year low of $36.26 and a 1 year high of $55.24. The company has a market cap of $54.29 billion, a PE ratio of 27.58, a PEG ratio of 2.39 and a beta of 1.87. The stock’s 50-day moving average price is $40.81 and its two-hundred day moving average price is $43.90.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) 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%. On average, analysts predict that Freeport-McMoRan Inc. will post 1.42 EPS 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.