Greenleaf Trust Raises Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Greenleaf Trust increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,777 shares of the natural resource company’s stock after purchasing an additional 363 shares during the period. Greenleaf Trust’s holdings in Freeport-McMoRan were worth $982,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 9.7% in the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after acquiring an additional 14,501 shares during the period. Easterly Investment Partners LLC raised its position in Freeport-McMoRan by 137.5% in the 3rd quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock valued at $7,375,000 after purchasing an additional 85,542 shares during the last quarter. Summit Global Investments grew its position in Freeport-McMoRan by 1,559.3% during the 3rd quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock worth $3,819,000 after purchasing an additional 71,883 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Freeport-McMoRan in the third quarter valued at $754,000. Finally, AIA Group Ltd raised its holdings in shares of Freeport-McMoRan by 16.2% in the third quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock valued at $4,604,000 after buying an additional 12,887 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. BMO Capital Markets cut their target price 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. Raymond James lifted their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Scotiabank cut their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $35.86 on Tuesday. Freeport-McMoRan Inc. has a 1-year low of $34.89 and a 1-year high of $55.24. The firm has a 50 day simple moving average of $39.89 and a 200-day simple moving average of $43.28. The firm has a market cap of $51.53 billion, a PE ratio of 27.80, a P/E/G ratio of 0.85 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) 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, equities analysts expect that Freeport-McMoRan Inc. will post 1.75 EPS for the current 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.