Hedeker Wealth LLC Purchases 641 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Hedeker Wealth LLC grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,341 shares of the natural resource company’s stock after buying an additional 641 shares during the quarter. Hedeker Wealth LLC’s holdings in Freeport-McMoRan were worth $2,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Matrix Trust Co bought a new stake in shares of Freeport-McMoRan during the third quarter valued at approximately $25,000. Laurel Wealth Advisors LLC grew its stake in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the last quarter. Godsey & Gibb Inc. grew its stake in shares of Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Financial Life Planners bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $36,000. Finally, Continuum Advisory LLC grew its stake in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $37.15 on Friday. The firm has a 50-day moving average of $39.48 and a 200-day moving average of $43.13. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24. The company has a market cap of $53.38 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 0.85 and a beta of 1.85. 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 announced its quarterly earnings data 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%. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

FCX has been the topic of several research analyst reports. Raymond James increased their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. BMO Capital Markets reduced their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price objective for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan 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.