Private Advisor Group LLC Sells 7,298 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Private Advisor Group LLC trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,017 shares of the natural resource company’s stock after selling 7,298 shares during the period. Private Advisor Group LLC’s holdings in Freeport-McMoRan were worth $2,666,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Bank of Jackson Hole Trust acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $426,000. New York State Common Retirement Fund lifted its stake in Freeport-McMoRan by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 2,097,922 shares of the natural resource company’s stock valued at $79,889,000 after acquiring an additional 11,800 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in Freeport-McMoRan by 1.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 69,258 shares of the natural resource company’s stock worth $2,637,000 after acquiring an additional 1,135 shares during the last quarter. Mraz Amerine & Associates Inc. grew its stake in shares of Freeport-McMoRan by 4.6% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 59,676 shares of the natural resource company’s stock worth $2,272,000 after acquiring an additional 2,607 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Freeport-McMoRan by 68.8% in the fourth quarter. Venturi Wealth Management LLC now owns 29,974 shares of the natural resource company’s stock valued at $1,141,000 after purchasing an additional 12,213 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Scotiabank lowered their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. BMO Capital Markets reduced their price target 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. Finally, JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Trading Up 0.4 %

Shares of Freeport-McMoRan stock opened at $37.11 on Tuesday. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24. The company has a market capitalization of $53.33 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 0.87 and a beta of 1.85. The business has a fifty day simple moving average of $38.46 and a two-hundred day simple moving average of $42.72. 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 posted its 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 return on equity of 7.50% and a net margin of 7.42%. Research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

About Freeport-McMoRan

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.