MassMutual Private Wealth & Trust FSB Sells 11,441 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

MassMutual Private Wealth & Trust FSB cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 26.1% in the 4th quarter, HoldingsChannel reports. The firm owned 32,313 shares of the natural resource company’s stock after selling 11,441 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Freeport-McMoRan were worth $1,230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FCX. Sanctuary Advisors LLC grew its position in Freeport-McMoRan by 9.7% during the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after acquiring an additional 14,501 shares during the last quarter. Easterly Investment Partners LLC grew its holdings in shares of Freeport-McMoRan by 137.5% during the 3rd quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock valued at $7,375,000 after purchasing an additional 85,542 shares during the last quarter. Summit Global Investments raised its position in Freeport-McMoRan by 1,559.3% in the 3rd quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock worth $3,819,000 after purchasing an additional 71,883 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at about $754,000. Finally, AIA Group Ltd boosted its stake in shares of Freeport-McMoRan by 16.2% during the third quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock valued at $4,604,000 after purchasing an additional 12,887 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 0.2 %

Shares of Freeport-McMoRan stock opened at $40.32 on Wednesday. Freeport-McMoRan Inc. has a 52-week low of $36.26 and a 52-week high of $55.24. The stock has a market capitalization of $57.93 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 2.21 and a beta of 1.87. The company has a 50-day simple moving average of $41.09 and a two-hundred day simple moving average of $44.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33.

Freeport-McMoRan (NYSE:FCXGet Free Report) last posted its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. On average, analysts anticipate that Freeport-McMoRan Inc. will post 1.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FCX. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Raymond James raised their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Jefferies Financial Group cut their price objective on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $52.42.

Get Our Latest Analysis on Freeport-McMoRan

Freeport-McMoRan Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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