Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 9.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,837 shares of the natural resource company’s stock after selling 1,193 shares during the quarter. TD Private Client Wealth LLC’s holdings in Freeport-McMoRan were worth $451,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FCX. Asset Planning Inc purchased a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC grew its position in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FCX shares. Scotiabank dropped their price target on shares of 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. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their target price for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $48.00 to $52.00 in a research report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Trading Up 3.5 %

Shares of Freeport-McMoRan stock opened at $41.66 on Tuesday. The business has a 50 day moving average price of $38.08 and a 200 day moving average price of $41.97. The company has a market capitalization of $59.87 billion, a P/E ratio of 32.30, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released 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 return on equity of 7.50% and a net margin of 7.42%. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

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.