Buffington Mohr McNeal Has $4.40 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Buffington Mohr McNeal decreased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 4.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 115,652 shares of the natural resource company’s stock after selling 4,979 shares during the period. Buffington Mohr McNeal’s holdings in Freeport-McMoRan were worth $4,404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FCX. Matrix Trust Co bought a new stake in Freeport-McMoRan during the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Freeport-McMoRan during the second quarter worth $27,000. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% during the fourth 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 during the period. Godsey & Gibb Inc. raised its holdings 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 acquiring an additional 346 shares during the period. Finally, Continuum Advisory LLC boosted its stake in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FCX. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Raymond James upped their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Scotiabank lowered their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday. BMO Capital Markets decreased their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday. Finally, Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their target price for the stock from $48.00 to $40.00 in a report on Friday. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Stock Down 3.0 %

NYSE FCX opened at $36.67 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. Freeport-McMoRan Inc. has a fifty-two week low of $36.26 and a fifty-two week high of $55.24. The stock has a market capitalization of $52.70 billion, a PE ratio of 26.77, a PEG ratio of 2.39 and a beta of 1.87. The business has a fifty day moving average price of $40.67 and a two-hundred day moving average price of $43.74.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results 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 7.40% and a net margin of 7.81%. Equities analysts expect that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

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.