Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 69,128 shares of the natural resource company’s stock after selling 506 shares during the period. Hantz Financial Services Inc.’s holdings in Freeport-McMoRan were worth $2,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Foster Victor Wealth Advisors LLC boosted its position in Freeport-McMoRan by 17.9% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 297,725 shares of the natural resource company’s stock worth $11,975,000 after purchasing an additional 45,289 shares in the last quarter. R Squared Ltd acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $206,000. Twelve Points Wealth Management LLC lifted its position in shares of Freeport-McMoRan by 9.1% during the 4th quarter. Twelve Points Wealth Management LLC now owns 44,313 shares of the natural resource company’s stock valued at $1,687,000 after buying an additional 3,680 shares in the last quarter. Foster Group Inc. grew its stake in Freeport-McMoRan by 1.2% in the 4th quarter. Foster Group Inc. now owns 32,529 shares of the natural resource company’s stock valued at $1,239,000 after acquiring an additional 379 shares during the period. Finally, Signature Wealth Management Partners LLC increased its holdings in Freeport-McMoRan by 16.4% in the 4th quarter. Signature Wealth Management Partners LLC now owns 7,100 shares of the natural resource company’s stock worth $270,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on FCX. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets cut their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Finally, Raymond James lifted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $36.62 on Friday. The firm has a 50 day simple moving average of $40.22 and a 200-day simple moving average of $43.54. The stock has a market cap of $52.62 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. 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 1-year low of $35.46 and a 1-year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued 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 7.40% and a net margin of 7.81%. On average, analysts expect that Freeport-McMoRan Inc. will post 1.42 EPS for the current year.

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.