Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Howard Capital Management Inc.

Howard Capital Management Inc. lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,594 shares of the natural resource company’s stock after acquiring an additional 499 shares during the period. Howard Capital Management Inc.’s holdings in Freeport-McMoRan were worth $365,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Private Advisor Group LLC raised its holdings in shares of Freeport-McMoRan by 1.1% during the third quarter. Private Advisor Group LLC now owns 77,315 shares of the natural resource company’s stock valued at $3,860,000 after buying an additional 842 shares during the last quarter. Allworth Financial LP increased its position in Freeport-McMoRan by 7.3% in the 3rd quarter. Allworth Financial LP now owns 7,336 shares of the natural resource company’s stock valued at $366,000 after acquiring an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Freeport-McMoRan by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 202,440 shares of the natural resource company’s stock valued at $10,393,000 after acquiring an additional 35,972 shares in the last quarter. PFG Investments LLC boosted its position in Freeport-McMoRan by 10.0% during the 3rd quarter. PFG Investments LLC now owns 22,627 shares of the natural resource company’s stock worth $1,130,000 after acquiring an additional 2,062 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Freeport-McMoRan by 1.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 158,417 shares of the natural resource company’s stock worth $7,908,000 after purchasing an additional 2,322 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $37.11 on Tuesday. Freeport-McMoRan Inc. has a fifty-two week low of $34.89 and a fifty-two week high of $55.24. The stock’s 50-day moving average is $38.46 and its two-hundred day moving average is $42.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm has a market cap of $53.33 billion, a P/E ratio of 28.77, a PEG ratio of 0.87 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. Analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FCX shares. JPMorgan Chase & Co. reduced 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. Scotiabank reduced 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 note on Friday, January 24th. Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, BMO Capital Markets dropped their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus target price of $51.46.

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.