Private Wealth Partners LLC Acquires 6,475 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Private Wealth Partners LLC boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 258,627 shares of the natural resource company’s stock after purchasing an additional 6,475 shares during the quarter. Private Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $9,849,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FCX. Asset Planning Inc bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC raised its stake in 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 acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan during the fourth quarter valued at $28,000. Financial Life Planners bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $36,000. Finally, Continuum Advisory LLC increased its position 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 purchasing an additional 236 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets reduced their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Raymond James raised their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective 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. Finally, Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Trading Down 1.8 %

FCX opened at $38.58 on Thursday. Freeport-McMoRan Inc. has a fifty-two week low of $34.89 and a fifty-two week high of $55.24. The company has a market cap of $55.44 billion, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 0.88 and a beta of 1.85. 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 firm has a 50 day simple moving average of $38.68 and a 200 day simple moving average of $42.76.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly 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 net margin of 7.42% and a return on equity of 7.50%. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

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.