Vision Financial Markets LLC Invests $27,000 in Freeport-McMoRan Inc. (NYSE:FCX)

Vision Financial Markets LLC acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 700 shares of the natural resource company’s stock, valued at approximately $27,000.

Other large investors have also bought and sold shares of the company. Marks Group Wealth Management Inc boosted its position in shares of Freeport-McMoRan by 6.5% during the 3rd quarter. Marks Group Wealth Management Inc now owns 4,919 shares of the natural resource company’s stock valued at $246,000 after purchasing an additional 299 shares in the last quarter. Catalina Capital Group LLC boosted its holdings in Freeport-McMoRan by 9.7% during the third quarter. Catalina Capital Group LLC now owns 6,656 shares of the natural resource company’s stock worth $332,000 after buying an additional 589 shares in the last quarter. Financial Enhancement Group LLC bought a new stake in Freeport-McMoRan during the third quarter worth approximately $4,528,000. Malaga Cove Capital LLC grew its position in Freeport-McMoRan by 26.2% in the third quarter. Malaga Cove Capital LLC now owns 45,900 shares of the natural resource company’s stock worth $2,291,000 after buying an additional 9,515 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Freeport-McMoRan by 4.1% in the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock valued at $84,085,000 after buying an additional 66,699 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

FCX stock opened at $37.66 on Friday. Freeport-McMoRan Inc. has a 1-year low of $34.26 and a 1-year high of $55.24. The business’s 50-day moving average price is $38.13 and its two-hundred day moving average price is $42.45. The firm has a market cap of $54.11 billion, a PE ratio of 29.19, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results 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 return on equity of 7.50% and a net margin of 7.42%. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

FCX has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Scotiabank decreased their target price 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. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus 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.