Financial Life Planners Acquires New Shares in Freeport-McMoRan Inc. (NYSE:FCX)

Financial Life Planners bought a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 935 shares of the natural resource company’s stock, valued at approximately $36,000.

Several other institutional investors also recently modified their holdings of the stock. Koshinski Asset Management Inc. lifted its position in shares of 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 buying an additional 214 shares during the last quarter. Trust Co. of Vermont lifted its holdings in Freeport-McMoRan by 5.2% during the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock valued at $228,000 after purchasing an additional 228 shares during the last quarter. Fidelis Capital Partners LLC boosted its position in Freeport-McMoRan by 2.0% during the third 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 increased its holdings in shares of Freeport-McMoRan by 4.4% in the third 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 during the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $35.86 on Tuesday. The firm’s 50 day simple moving average is $39.89 and its 200 day simple moving average is $43.28. The firm has a market capitalization of $51.53 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 0.85 and a beta of 1.87. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued 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 net margin of 7.42% and a return on equity of 7.50%. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on FCX. Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their price target for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Scotiabank lowered their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. BMO Capital Markets reduced their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note 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 research report on Wednesday, October 23rd. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.