8,747 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by SVB Wealth LLC

SVB Wealth LLC purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 8,747 shares of the natural resource company’s stock, valued at approximately $333,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Prospera Private Wealth LLC lifted its position in shares of Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after acquiring an additional 234 shares during the period. Continuum Advisory LLC increased 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 purchasing an additional 236 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Freeport-McMoRan by 0.5% during the third quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock valued at $2,518,000 after purchasing an additional 244 shares during the period. Intellectus Partners LLC boosted its position in shares of Freeport-McMoRan by 0.4% during the 3rd quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company’s stock worth $3,582,000 after purchasing an additional 256 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of Freeport-McMoRan by 1.8% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,646 shares of the natural resource company’s stock valued at $781,000 after buying an additional 279 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Down 1.7 %

FCX opened at $34.93 on Wednesday. Freeport-McMoRan Inc. has a fifty-two week low of $34.26 and a fifty-two week high of $55.24. The firm has a market capitalization of $50.20 billion, a P/E ratio of 27.08, a PEG ratio of 0.87 and a beta of 1.85. The company’s 50-day moving average is $38.23 and its 200 day moving average is $42.54. 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 posted 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 return on equity of 7.50% and a net margin of 7.42%. Research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target 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. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their target price for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Scotiabank dropped their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

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.