Capital Investment Advisory Services LLC Reduces Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Capital Investment Advisory Services LLC cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.6% during the fourth quarter, HoldingsChannel reports. The firm owned 8,824 shares of the natural resource company’s stock after selling 328 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Freeport-McMoRan were worth $336,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Matrix Trust Co purchased a new stake in Freeport-McMoRan during the 3rd quarter valued at $25,000. Godsey & Gibb Inc. raised its stake in shares of Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 346 shares during the period. Laurel Wealth Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 600 shares during the last quarter. Continuum Advisory LLC boosted 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 worth $37,000 after purchasing an additional 236 shares during the period. Finally, Wolff Wiese Magana LLC grew its holdings in Freeport-McMoRan by 214.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 849 shares of the natural resource company’s stock valued at $42,000 after purchasing an additional 579 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FCX shares. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their target price for the company from $48.00 to $40.00 in a research 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 for the company in a report on Thursday, January 16th. 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 report on Friday, January 24th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday. Finally, Scotiabank decreased 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 report on Friday, January 24th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $35.81 on Friday. The company has a market capitalization of $51.46 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 0.86 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The company’s fifty day moving average price is $40.06 and its 200 day moving average price is $43.43. Freeport-McMoRan Inc. has a 1 year low of $35.46 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 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, research analysts predict that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current year.

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.