Compass Wealth Management LLC Cuts Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Compass Wealth Management LLC decreased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,792 shares of the natural resource company’s stock after selling 1,310 shares during the period. Compass Wealth Management LLC’s holdings in Freeport-McMoRan were worth $1,591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Matrix Trust Co purchased a new stake in Freeport-McMoRan in the 3rd quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at approximately $27,000. Laurel Wealth Advisors LLC boosted its stake in shares of Freeport-McMoRan by 487.8% in the fourth 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 in the last quarter. Godsey & Gibb Inc. grew its holdings in 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. Finally, Continuum Advisory LLC raised its position in Freeport-McMoRan by 46.8% in 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 in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Scotiabank decreased their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Raymond James raised their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Price Performance

FCX stock opened at $37.78 on Friday. The stock’s 50 day moving average is $40.81 and its two-hundred day moving average is $43.95. The company has a market capitalization of $54.29 billion, a PE ratio of 27.58, a P/E/G ratio of 2.39 and a beta of 1.87. Freeport-McMoRan Inc. has a 52-week low of $36.26 and a 52-week high of $55.24. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31.

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 net margin of 7.81% and a return on equity of 7.40%. Analysts predict that Freeport-McMoRan Inc. will post 1.42 earnings per share 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.