Envestnet Portfolio Solutions Inc. Has $1.39 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Envestnet Portfolio Solutions Inc. increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,405 shares of the natural resource company’s stock after purchasing an additional 3,333 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Freeport-McMoRan were worth $1,386,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Freeport-McMoRan by 240.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock worth $3,994,000 after purchasing an additional 56,475 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Freeport-McMoRan by 4.2% in the third quarter. PNC Financial Services Group Inc. now owns 228,860 shares of the natural resource company’s stock worth $11,425,000 after buying an additional 9,153 shares during the last quarter. Jennison Associates LLC grew its stake in Freeport-McMoRan by 26.0% in the 3rd quarter. Jennison Associates LLC now owns 312,201 shares of the natural resource company’s stock valued at $15,585,000 after buying an additional 64,350 shares during the last quarter. Cornerstone Advisors LLC lifted its position in Freeport-McMoRan by 42.5% during the 3rd quarter. Cornerstone Advisors LLC now owns 11,400 shares of the natural resource company’s stock worth $569,000 after acquiring an additional 3,400 shares during the last quarter. Finally, King Luther Capital Management Corp boosted its stake in Freeport-McMoRan by 1.6% during the 3rd quarter. King Luther Capital Management Corp now owns 20,303 shares of the natural resource company’s stock valued at $1,014,000 after purchasing an additional 323 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Down 1.0 %

Shares of NYSE:FCX opened at $40.31 on Friday. 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 stock has a market cap of $57.93 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a 50 day moving average of $38.03 and a 200-day moving average of $41.96. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 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%. On average, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FCX. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price target for the company from $48.00 to $52.00 in a report on Thursday. Scotiabank lowered their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Finally, Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Six equities research 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. According to MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

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.