Financial Sense Advisors Inc. Grows Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Financial Sense Advisors Inc. raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 166.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,124 shares of the natural resource company’s stock after buying an additional 7,571 shares during the quarter. Financial Sense Advisors Inc.’s holdings in Freeport-McMoRan were worth $462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FCX. Fidelis Capital Partners LLC grew its holdings in 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 valued at $560,000 after purchasing an additional 231 shares during the period. Prospera Private Wealth LLC boosted its holdings in shares of Freeport-McMoRan by 4.4% in the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after purchasing an additional 234 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Freeport-McMoRan by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock worth $2,518,000 after buying an additional 244 shares during the last quarter. Finally, Intellectus Partners LLC raised its position in shares of Freeport-McMoRan by 0.4% in the 3rd quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company’s stock worth $3,582,000 after buying an additional 256 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $38.58 on Thursday. The firm has a fifty day moving average of $38.68 and a two-hundred day moving average of $42.76. The firm has a market cap of $55.44 billion, a P/E ratio of 29.91, a P/E/G ratio of 0.88 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. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FCX has been the subject of a number of research reports. Sanford C. Bernstein downgraded 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 report on Tuesday, January 7th. Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. JPMorgan Chase & Co. cut their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Scotiabank dropped their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, BMO Capital Markets reduced their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average price target of $51.46.

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.