Bradley Foster & Sargent Inc. CT Has $1.29 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Bradley Foster & Sargent Inc. CT trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,985 shares of the natural resource company’s stock after selling 1,231 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Freeport-McMoRan were worth $1,294,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC acquired a new stake in Freeport-McMoRan in the 4th quarter valued at about $218,000. Investors Asset Management of Georgia Inc. GA ADV grew its stake in shares of Freeport-McMoRan by 3.6% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 16,136 shares of the natural resource company’s stock valued at $616,000 after purchasing an additional 555 shares during the last quarter. Boston Financial Mangement LLC increased its holdings in shares of Freeport-McMoRan by 22.9% in the fourth quarter. Boston Financial Mangement LLC now owns 5,272 shares of the natural resource company’s stock valued at $201,000 after purchasing an additional 981 shares in the last quarter. Mader & Shannon Wealth Management Inc. bought a new position in Freeport-McMoRan in the 4th quarter worth approximately $1,084,000. Finally, Ieq Capital LLC lifted its holdings in Freeport-McMoRan by 18.6% during the 4th quarter. Ieq Capital LLC now owns 76,538 shares of the natural resource company’s stock worth $2,915,000 after buying an additional 11,984 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 5.1 %

NYSE:FCX opened at $36.97 on Friday. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $53.13 billion, a P/E ratio of 28.66, a P/E/G ratio of 0.87 and a beta of 1.85. The stock’s fifty day simple moving average is $38.53 and its 200-day simple moving average is $42.72.

Freeport-McMoRan (NYSE:FCX) last posted 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 return on equity of 7.50% and a net margin of 7.42%. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FCX shares. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price target for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

About Freeport-McMoRan

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.