Freeport-McMoRan Inc. (NYSE:FCX) Stock Position Lowered by Capital Advisors Inc. OK

Capital Advisors Inc. OK decreased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 782,295 shares of the natural resource company’s stock after selling 3,459 shares during the quarter. Capital Advisors Inc. OK owned approximately 0.05% of Freeport-McMoRan worth $29,790,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mountaineer Partners Management LLC grew its position in shares of Freeport-McMoRan by 4,767.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after buying an additional 11,687,982 shares during the period. Assenagon Asset Management S.A. lifted its stake in Freeport-McMoRan by 142.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company’s stock valued at $162,964,000 after buying an additional 2,515,103 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Freeport-McMoRan by 9.5% in the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after purchasing an additional 2,366,187 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Freeport-McMoRan by 423.5% in the third quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company’s stock worth $139,183,000 after purchasing an additional 2,255,529 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Freeport-McMoRan by 2.4% in the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after purchasing an additional 1,392,494 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $37.62 on Wednesday. The stock has a market cap of $54.05 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 0.81 and a beta of 1.85. The business’s fifty day moving average is $39.13 and its 200 day moving average is $42.95. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Research analysts expect that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. BMO Capital Markets dropped their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Scotiabank cut 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. Jefferies Financial Group cut shares of 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Nine research 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. Based on data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $51.46.

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.