Freeport-McMoRan Inc. (NYSE:FCX) Holdings Cut by Mcdonald Partners LLC

Mcdonald Partners LLC decreased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,835 shares of the natural resource company’s stock after selling 2,210 shares during the quarter. Mcdonald Partners LLC’s holdings in Freeport-McMoRan were worth $755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. lifted its position in Freeport-McMoRan by 1.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 69,258 shares of the natural resource company’s stock worth $2,637,000 after buying an additional 1,135 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its position in Freeport-McMoRan by 4.6% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 59,676 shares of the natural resource company’s stock worth $2,272,000 after buying an additional 2,607 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Freeport-McMoRan by 68.8% in the 4th quarter. Venturi Wealth Management LLC now owns 29,974 shares of the natural resource company’s stock worth $1,141,000 after buying an additional 12,213 shares in the last quarter. Citizens & Northern Corp lifted its position in Freeport-McMoRan by 2.4% in the 4th quarter. Citizens & Northern Corp now owns 18,907 shares of the natural resource company’s stock worth $720,000 after buying an additional 450 shares in the last quarter. Finally, Empower Advisory Group LLC lifted its position in Freeport-McMoRan by 5,518.7% in the 4th quarter. Empower Advisory Group LLC now owns 549,622 shares of the natural resource company’s stock worth $20,930,000 after buying an additional 539,840 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $39.46 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm has a market capitalization of $56.69 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 0.81 and a beta of 1.85. The company’s fifty day moving average is $38.84 and its two-hundred day moving average is $42.81. Freeport-McMoRan Inc. has a 52-week low of $34.89 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results 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%. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

FCX has been the topic of a number of recent research reports. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank cut their price target 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, January 24th. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their price target for the company from $48.00 to $40.00 in a report on Friday, January 24th. Raymond James raised their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.46.

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.