TCTC Holdings LLC Purchases 7,974 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

TCTC Holdings LLC lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 719,098 shares of the natural resource company’s stock after acquiring an additional 7,974 shares during the period. Freeport-McMoRan makes up about 1.0% of TCTC Holdings LLC’s portfolio, making the stock its 27th largest holding. TCTC Holdings LLC’s holdings in Freeport-McMoRan were worth $27,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $25,000. Vision Financial Markets LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $27,000. Laurel Wealth Advisors LLC lifted its stake in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the last quarter. Roxbury Financial LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 3.5 %

FCX opened at $38.91 on Monday. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. 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 fifty day moving average of $37.93 and a 200-day moving average of $42.07. The stock has a market cap of $55.91 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

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%. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets dropped 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 note on Friday, January 24th. Finally, Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

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.