Strengthening Families & Communities LLC Reduces Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Strengthening Families & Communities LLC lowered its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 8.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,464 shares of the natural resource company’s stock after selling 3,840 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Freeport-McMoRan were worth $1,541,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Brookstone Capital Management grew its holdings in shares of Freeport-McMoRan by 53.8% during the third quarter. Brookstone Capital Management now owns 13,044 shares of the natural resource company’s stock worth $651,000 after buying an additional 4,565 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Freeport-McMoRan by 22.1% during the third quarter. Exchange Traded Concepts LLC now owns 14,998 shares of the natural resource company’s stock worth $749,000 after acquiring an additional 2,716 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in Freeport-McMoRan by 1.0% in the 3rd quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock worth $1,037,000 after acquiring an additional 214 shares during the period. Webster Bank N. A. raised its holdings in Freeport-McMoRan by 28.0% in the 3rd quarter. Webster Bank N. A. now owns 1,124 shares of the natural resource company’s stock valued at $56,000 after acquiring an additional 246 shares during the last quarter. Finally, Armstrong Advisory Group Inc. lifted its stake in shares of Freeport-McMoRan by 68.7% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 3,970 shares of the natural resource company’s stock worth $198,000 after purchasing an additional 1,617 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FCX. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Raymond James lifted their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Scotiabank dropped their price target on shares of 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 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Trading Up 0.6 %

NYSE:FCX opened at $38.47 on Tuesday. The business’s 50-day moving average is $39.25 and its two-hundred day moving average is $43.01. The firm has a market capitalization of $55.27 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a 12 month low of $34.89 and a 12 month high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Research analysts predict that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current fiscal year.

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.