Signature Wealth Management Partners LLC Has $270,000 Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Signature Wealth Management Partners LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 16.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,100 shares of the natural resource company’s stock after purchasing an additional 1,000 shares during the quarter. Signature Wealth Management Partners LLC’s holdings in Freeport-McMoRan were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. AXA S.A. raised its position in shares of Freeport-McMoRan by 101.5% in the second quarter. AXA S.A. now owns 32,814 shares of the natural resource company’s stock valued at $1,595,000 after purchasing an additional 16,531 shares during the period. AQR Capital Management LLC grew its stake in Freeport-McMoRan by 28.1% in the 2nd quarter. AQR Capital Management LLC now owns 285,529 shares of the natural resource company’s stock valued at $13,877,000 after buying an additional 62,663 shares during the last quarter. Creative Planning raised its holdings in Freeport-McMoRan by 28.7% in the 2nd quarter. Creative Planning now owns 202,693 shares of the natural resource company’s stock valued at $9,851,000 after acquiring an additional 45,212 shares during the period. Magnolia Capital Advisors LLC lifted its position in Freeport-McMoRan by 39.3% during the second quarter. Magnolia Capital Advisors LLC now owns 8,504 shares of the natural resource company’s stock worth $413,000 after acquiring an additional 2,400 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 82.9% during the second quarter. NewEdge Advisors LLC now owns 181,979 shares of the natural resource company’s stock worth $8,393,000 after acquiring an additional 82,507 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FCX shares. 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 note on Friday, January 24th. Jefferies Financial Group downgraded 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. JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. BMO Capital Markets dropped their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Trading Down 2.4 %

Shares of FCX stock opened at $35.80 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. Freeport-McMoRan Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $55.24. The company has a market cap of $51.45 billion, a PE ratio of 26.13, a P/E/G ratio of 2.39 and a beta of 1.87. The stock’s fifty day moving average price is $40.51 and its two-hundred day moving average price is $43.64.

Freeport-McMoRan (NYSE:FCX) last released 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 net margin of 7.81% and a return on equity of 7.40%. Equities analysts predict that Freeport-McMoRan Inc. will post 1.42 EPS for the current fiscal 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.