Advisory Alpha LLC Purchases 1,118 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Advisory Alpha LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,487 shares of the natural resource company’s stock after purchasing an additional 1,118 shares during the period. Advisory Alpha LLC’s holdings in Freeport-McMoRan were worth $285,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Matrix Trust Co bought a new stake in Freeport-McMoRan in the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Freeport-McMoRan during the second quarter worth $27,000. Godsey & Gibb Inc. raised its holdings in shares of Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 346 shares during the period. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 600 shares during the period. Finally, Continuum Advisory LLC raised its holdings in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares during the period. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James raised their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein lowered shares of 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 note on Tuesday, January 7th. Scotiabank lowered their price target on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their price objective 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 decreased their price objective on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Seven investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.42.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $38.49 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $55.31 billion, a P/E ratio of 28.10, a P/E/G ratio of 2.44 and a beta of 1.87. Freeport-McMoRan Inc. has a 12-month low of $36.26 and a 12-month high of $55.24. The firm has a 50-day moving average price of $40.91 and a two-hundred day moving average price of $44.04.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. Analysts anticipate that Freeport-McMoRan Inc. will post 1.43 earnings per share for the current 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.