PDS Planning Inc Sells 291 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

PDS Planning Inc lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,656 shares of the natural resource company’s stock after selling 291 shares during the quarter. PDS Planning Inc’s holdings in Freeport-McMoRan were worth $253,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Freeport-McMoRan by 240.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock worth $3,994,000 after purchasing an additional 56,475 shares during the last quarter. AMG National Trust Bank increased its position in Freeport-McMoRan by 10.2% in the 3rd quarter. AMG National Trust Bank now owns 6,018 shares of the natural resource company’s stock worth $300,000 after buying an additional 558 shares during the period. Prospera Financial Services Inc boosted its position in shares of Freeport-McMoRan by 15.6% in the third quarter. Prospera Financial Services Inc now owns 71,497 shares of the natural resource company’s stock valued at $3,569,000 after acquiring an additional 9,648 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Freeport-McMoRan in the third quarter worth $3,016,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Freeport-McMoRan by 4.2% in the third quarter. PNC Financial Services Group Inc. now owns 228,860 shares of the natural resource company’s stock worth $11,425,000 after acquiring an additional 9,153 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $40.41 on Thursday. The stock has a market capitalization of $58.08 billion, a P/E ratio of 31.33, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The firm has a 50 day moving average of $37.99 and a 200-day moving average of $42.00. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 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, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FCX shares. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their target price for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective 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. Finally, Scotiabank lowered their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Freeport-McMoRan 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.