Peloton Wealth Strategists Buys New Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Peloton Wealth Strategists bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,075 shares of the natural resource company’s stock, valued at approximately $1,145,000.

Several other institutional investors also recently bought and sold shares of the stock. Fidelis Capital Partners LLC raised its position 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 valued at $560,000 after purchasing an additional 231 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Freeport-McMoRan by 4.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,690 shares of the natural resource company’s stock valued at $2,381,000 after purchasing an additional 2,078 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Freeport-McMoRan by 0.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 220,726 shares of the natural resource company’s stock valued at $11,019,000 after purchasing an additional 983 shares during the last quarter. S.A. Mason LLC raised its position in Freeport-McMoRan by 42.1% during the 3rd quarter. S.A. Mason LLC now owns 4,413 shares of the natural resource company’s stock valued at $220,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Catalyst Financial Partners LLC raised its position in Freeport-McMoRan by 5.4% during the 3rd quarter. Catalyst Financial Partners LLC now owns 7,085 shares of the natural resource company’s stock valued at $354,000 after purchasing an additional 364 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $37.35 on Friday. 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 company has a market capitalization of $53.67 billion, a P/E ratio of 28.95, a PEG ratio of 0.87 and a beta of 1.85. The stock’s 50 day moving average is $38.35 and its 200 day moving average is $42.62. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24.

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 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%. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on FCX. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the company from $40.00 to $48.00 in a research report on Thursday. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Scotiabank decreased their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $52.04.

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.