Freeport-McMoRan Inc. (NYSE:FCX) Stock Holdings Lifted by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 20.4% during the fourth quarter, HoldingsChannel reports. The fund owned 201,735 shares of the natural resource company’s stock after purchasing an additional 34,228 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $7,682,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Matrix Trust Co acquired a new stake in shares of Freeport-McMoRan during the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Freeport-McMoRan during the 2nd quarter worth about $27,000. Godsey & Gibb Inc. raised its holdings in shares of Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares during the period. Laurel Wealth Advisors LLC raised its holdings in shares of 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 period. Finally, Continuum Advisory LLC raised its holdings in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 236 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FCX shares. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets reduced their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday. Raymond James boosted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their price target for the stock from $48.00 to $40.00 in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $36.93 on Monday. The company’s fifty day moving average price is $40.81 and its 200 day moving average price is $43.85. Freeport-McMoRan Inc. has a 1 year low of $36.26 and a 1 year high of $55.24. The stock has a market capitalization of $53.07 billion, a P/E ratio of 26.95, a P/E/G ratio of 2.39 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33.

Freeport-McMoRan (NYSE:FCX) last released its quarterly 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 net margin of 7.81% and a return on equity of 7.40%. As a group, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

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.