Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 8.7% in the fourth quarter, Holdings Channel reports. 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 SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC grew its holdings in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 600 shares in the last quarter. Godsey & Gibb Inc. lifted its position in shares of Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 346 shares during the last quarter. Financial Life Planners acquired a new position in Freeport-McMoRan in the fourth quarter worth about $36,000. Continuum Advisory LLC increased its holdings 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 buying an additional 236 shares during the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Freeport-McMoRan during the fourth quarter valued at approximately $39,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.6 %

Shares of FCX stock opened at $38.47 on Tuesday. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24. 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. The stock has a fifty day moving average of $39.25 and a two-hundred day moving average of $43.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last posted 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 return on equity of 7.50% and a net margin of 7.42%. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FCX shares. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Scotiabank lowered their target price 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. Raymond James raised their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets lowered their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target 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.