Freeport-McMoRan Inc. (NYSE:FCX) Holdings Boosted by Edgestream Partners L.P.

Edgestream Partners L.P. grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2,641.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 219,035 shares of the natural resource company’s stock after purchasing an additional 211,046 shares during the quarter. Edgestream Partners L.P.’s holdings in Freeport-McMoRan were worth $8,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FCX. Asset Planning Inc acquired a new position in Freeport-McMoRan during the 4th quarter valued at about $25,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC boosted its position in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after buying an additional 600 shares during the period. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth approximately $28,000. Finally, Continuum Advisory LLC grew its holdings in Freeport-McMoRan by 46.8% in 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 in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 1.3 %

Shares of NYSE:FCX opened at $37.66 on Friday. The stock has a market capitalization of $54.11 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 1-year low of $34.26 and a 1-year high of $55.24. The company has a 50 day moving average price of $38.13 and a 200 day moving average price of $42.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) 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%. On average, research 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 several recent analyst reports. Scotiabank cut 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 cut 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 note on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. 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 note on Thursday. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

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.