Empowered Funds LLC Acquires 25,143 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Empowered Funds LLC raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 12.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 233,385 shares of the natural resource company’s stock after acquiring an additional 25,143 shares during the quarter. Empowered Funds LLC’s holdings in Freeport-McMoRan were worth $8,887,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FCX. Koshinski Asset Management Inc. raised its position in Freeport-McMoRan by 1.0% during the 3rd quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock worth $1,037,000 after purchasing an additional 214 shares during the last quarter. Trust Co. of Vermont raised its position in shares of 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 during the last quarter. Fidelis Capital Partners LLC lifted its stake in shares of Freeport-McMoRan by 2.0% in 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 during the period. Prospera Private Wealth LLC boosted its holdings in Freeport-McMoRan by 4.4% in the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after acquiring an additional 234 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 236 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FCX. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Raymond James upped their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their price target for the stock from $48.00 to $40.00 in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, BMO Capital Markets decreased their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Stock Up 3.0 %

Freeport-McMoRan stock opened at $38.27 on Monday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average price is $39.36 and its two-hundred day moving average price is $43.05. The firm has a market capitalization of $54.98 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a 1-year low of $34.89 and a 1-year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released 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 net margin of 7.42% and a return on equity of 7.50%. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current fiscal year.

Freeport-McMoRan Company 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.