Brown Lisle Cummings Inc. Boosts Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Brown Lisle Cummings Inc. lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 46.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,934 shares of the natural resource company’s stock after buying an additional 1,250 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Freeport-McMoRan were worth $150,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FCX. Koshinski Asset Management Inc. boosted its holdings in Freeport-McMoRan by 1.0% in the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock valued at $1,037,000 after acquiring an additional 214 shares in the last quarter. Trust Co. of Vermont raised its holdings in Freeport-McMoRan by 5.2% in the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock worth $228,000 after purchasing an additional 228 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in shares of Freeport-McMoRan by 2.0% in the 3rd quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock worth $560,000 after purchasing an additional 231 shares during the period. Prospera Private Wealth LLC boosted its stake in shares of Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after purchasing an additional 234 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares during the period. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $36.49 on Wednesday. The firm has a market cap of $52.43 billion, a P/E ratio of 28.29, a PEG ratio of 0.85 and a beta of 1.85. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $39.75 and a 200 day moving average of $43.21.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results 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 7.50% and a net margin of 7.42%. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on FCX shares. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets dropped their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Raymond James increased their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their target price for the company from $48.00 to $40.00 in a report on Friday, January 24th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.46.

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.