PFG Investments LLC Purchases 283 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

PFG Investments LLC grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,910 shares of the natural resource company’s stock after purchasing an additional 283 shares during the period. PFG Investments LLC’s holdings in Freeport-McMoRan were worth $872,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Deane Retirement Strategies Inc. raised its holdings in Freeport-McMoRan by 0.4% during the third quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company’s stock worth $2,357,000 after acquiring an additional 201 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in Freeport-McMoRan by 1.0% during the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock worth $1,037,000 after acquiring an additional 214 shares in the last quarter. Trust Co. of Vermont raised its holdings in Freeport-McMoRan by 5.2% during the third quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock worth $228,000 after acquiring an additional 228 shares in the last quarter. Fidelis Capital Partners LLC raised its holdings in Freeport-McMoRan by 2.0% during the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock worth $560,000 after acquiring an additional 231 shares in the last quarter. Finally, Prospera Private Wealth LLC raised its holdings in Freeport-McMoRan by 4.4% during the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after acquiring an additional 234 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $35.80 on Wednesday. The company has a market capitalization of $51.45 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.39 and a beta of 1.87. Freeport-McMoRan Inc. has a 12 month low of $35.46 and a 12 month high of $55.24. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $40.51 and its 200-day moving average is $43.64.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FCX. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. BMO Capital Markets dropped their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Raymond James upped their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Scotiabank dropped their price objective on 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. Eight 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. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

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.