28,465 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by Mader & Shannon Wealth Management Inc.

Mader & Shannon Wealth Management Inc. purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 28,465 shares of the natural resource company’s stock, valued at approximately $1,084,000. Freeport-McMoRan accounts for 0.7% of Mader & Shannon Wealth Management Inc.’s holdings, making the stock its 18th biggest holding.

A number of other large investors have also recently bought and sold shares of the business. Fidelis Capital Partners LLC boosted its stake in Freeport-McMoRan by 2.0% during the 3rd 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 boosted its stake in Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after purchasing an additional 234 shares during the period. Continuum Advisory LLC boosted its stake in 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 during the period. Harbor Capital Advisors Inc. boosted its stake in Freeport-McMoRan by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock worth $2,518,000 after purchasing an additional 244 shares during the period. Finally, Intellectus Partners LLC lifted its stake in shares of Freeport-McMoRan by 0.4% in the 3rd quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company’s stock worth $3,582,000 after acquiring an additional 256 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $38.58 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $38.68 and a two-hundred day moving average price of $42.76. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The company has a market capitalization of $55.44 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 0.88 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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 1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FCX shares. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their target price for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. BMO Capital Markets reduced their target price on shares of 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 raised their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Scotiabank reduced their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.46.

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.