Black Swift Group LLC Sells 30,390 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Black Swift Group LLC decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 58.1% in the 4th quarter, HoldingsChannel reports. The fund owned 21,960 shares of the natural resource company’s stock after selling 30,390 shares during the period. Black Swift Group LLC’s holdings in Freeport-McMoRan were worth $836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $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 increased its holdings 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 valued at $28,000 after acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 9.3 %

Shares of NYSE FCX opened at $38.16 on Thursday. Freeport-McMoRan Inc. has a one year low of $34.26 and a one 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. The business’s fifty day moving average price is $38.15 and its 200-day moving average price is $42.48. The stock has a market capitalization of $54.83 billion, a PE ratio of 29.58, a P/E/G ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS 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, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on FCX. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. 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 report on Friday, January 24th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their target price for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.