Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.8% in the 4th quarter, HoldingsChannel reports. The firm owned 77,228 shares of the natural resource company’s stock after selling 2,241 shares during the period. Securian Asset Management Inc.’s holdings in Freeport-McMoRan were worth $2,941,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Prospera Private Wealth LLC boosted 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 worth $277,000 after acquiring an additional 234 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. 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 acquiring an additional 256 shares in the last quarter. PFG Investments LLC boosted its position in shares of Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after acquiring an additional 283 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Freeport-McMoRan by 14.6% during the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after acquiring an additional 287 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets decreased their target price 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. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $51.75.

Freeport-McMoRan Stock Up 2.7 %

FCX opened at $36.84 on Thursday. The business has a 50 day moving average price of $37.92 and a two-hundred day moving average price of $42.18. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $52.94 billion, a PE ratio of 28.56, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its 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 return on equity of 7.50% and a net margin of 7.42%. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current 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.