Intellectus Partners LLC Sells 494 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Intellectus Partners LLC trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 71,264 shares of the natural resource company’s stock after selling 494 shares during the quarter. Intellectus Partners LLC’s holdings in Freeport-McMoRan were worth $2,714,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FCX. Prospera Private Wealth LLC boosted its position in Freeport-McMoRan by 4.4% during the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after buying an additional 234 shares during the period. Continuum Advisory LLC lifted its stake in shares of Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 236 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in Freeport-McMoRan by 1.8% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,646 shares of the natural resource company’s stock valued at $781,000 after acquiring an additional 279 shares during the period. PFG Investments LLC grew its position in Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after acquiring an additional 283 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Freeport-McMoRan by 14.6% in the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price objective for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their target price 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. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $36.97 on Friday. The business’s fifty day moving average is $38.10 and its 200 day moving average is $42.42. 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 stock has a market cap of $53.13 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a twelve month low of $34.26 and a twelve month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal 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.