Jeppson Wealth Management LLC Raises Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Jeppson Wealth Management LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 9.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 42,194 shares of the natural resource company’s stock after purchasing an additional 3,663 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Freeport-McMoRan were worth $1,607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Lebenthal Global Advisors LLC increased its stake in Freeport-McMoRan by 91.0% in the 4th quarter. Lebenthal Global Advisors LLC now owns 14,215 shares of the natural resource company’s stock worth $541,000 after buying an additional 6,773 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Freeport-McMoRan by 20.4% in the fourth quarter. Foundations Investment Advisors LLC now owns 201,735 shares of the natural resource company’s stock worth $7,682,000 after acquiring an additional 34,228 shares during the period. Parsons Capital Management Inc. RI grew its position in shares of Freeport-McMoRan by 42.6% during the fourth quarter. Parsons Capital Management Inc. RI now owns 66,936 shares of the natural resource company’s stock worth $2,549,000 after purchasing an additional 20,002 shares in the last quarter. Pacer Advisors Inc. raised its stake in Freeport-McMoRan by 11.4% during the 4th quarter. Pacer Advisors Inc. now owns 136,799 shares of the natural resource company’s stock valued at $5,209,000 after purchasing an additional 14,023 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $734,000. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Raymond James increased their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. BMO Capital Markets reduced their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped 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. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price target for the company from $48.00 to $40.00 in a research note on Friday. Eight investment 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 stock. According to MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

Read Our Latest Stock Report on Freeport-McMoRan

Freeport-McMoRan Stock Down 3.0 %

Shares of FCX opened at $36.67 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $40.67 and a 200 day moving average of $43.74. The company has a market cap of $52.70 billion, a PE ratio of 26.77, a P/E/G ratio of 2.39 and a beta of 1.87. Freeport-McMoRan Inc. has a 52-week low of $36.26 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCXGet Free Report) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.42 EPS for the current year.

Freeport-McMoRan Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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