HUB Investment Partners LLC Trims Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

HUB Investment Partners LLC reduced its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 25.6% during the fourth quarter, Holdings Channel reports. The firm owned 38,511 shares of the natural resource company’s stock after selling 13,263 shares during the quarter. HUB Investment Partners LLC’s holdings in Freeport-McMoRan were worth $1,466,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FCX. Asset Planning Inc purchased a new position in Freeport-McMoRan during the 4th quarter valued at $25,000. Vision Financial Markets LLC purchased a new position in Freeport-McMoRan during the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC increased its position in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC purchased a new position in Freeport-McMoRan during the 4th quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan during the 4th quarter valued at $29,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $40.72 on Friday. The stock has a market cap of $58.51 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 0.87 and a beta of 1.87. The firm’s 50-day moving average is $38.00 and its 200 day moving average is $41.99. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. 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 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 net margin of 7.42% and a return on equity of 7.50%. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FCX has been the topic of a number of recent research reports. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Finally, BMO Capital Markets reduced their target price 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. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Company 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.