Larson Financial Group LLC Buys 1,077 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Larson Financial Group LLC raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 47.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,329 shares of the natural resource company’s stock after acquiring an additional 1,077 shares during the quarter. Larson Financial Group LLC’s holdings in Freeport-McMoRan were worth $127,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. HM Payson & Co. raised its holdings in Freeport-McMoRan by 97.8% in the 4th quarter. HM Payson & Co. now owns 6,216 shares of the natural resource company’s stock valued at $237,000 after acquiring an additional 3,074 shares during the period. Banco Santander S.A. bought a new position in Freeport-McMoRan in the 4th quarter valued at about $3,175,000. Machina Capital S.A.S. raised its holdings in Freeport-McMoRan by 72.3% in the 4th quarter. Machina Capital S.A.S. now owns 30,937 shares of the natural resource company’s stock valued at $1,178,000 after acquiring an additional 12,977 shares during the period. Edgestream Partners L.P. raised its holdings in Freeport-McMoRan by 2,641.7% in the 4th quarter. Edgestream Partners L.P. now owns 219,035 shares of the natural resource company’s stock valued at $8,341,000 after acquiring an additional 211,046 shares during the period. Finally, West Family Investments Inc. raised its holdings in Freeport-McMoRan by 12.1% in the 4th quarter. West Family Investments Inc. now owns 6,830 shares of the natural resource company’s stock valued at $260,000 after acquiring an additional 737 shares during the period. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $35.88 on Wednesday. Freeport-McMoRan Inc. has a fifty-two week low of $33.98 and a fifty-two week 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. The firm has a market capitalization of $51.55 billion, a P/E ratio of 27.81, a P/E/G ratio of 0.87 and a beta of 1.87. The company’s 50 day moving average price is $37.94 and its two-hundred day moving average price is $42.22.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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 analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their target price for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. BMO Capital Markets lowered 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. Finally, JPMorgan Chase & Co. lowered their target price 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. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Freeport-McMoRan 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.