Goehring & Rozencwajg Associates LLC Sells 8,124 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Goehring & Rozencwajg Associates LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,649 shares of the natural resource company’s stock after selling 8,124 shares during the period. Freeport-McMoRan comprises 1.8% of Goehring & Rozencwajg Associates LLC’s portfolio, making the stock its 24th biggest holding. Goehring & Rozencwajg Associates LLC’s holdings in Freeport-McMoRan were worth $8,735,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC boosted its stake in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares in the last quarter. Godsey & Gibb Inc. lifted its holdings 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 acquiring an additional 346 shares during the period. Financial Life Planners acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at $36,000. Continuum Advisory LLC grew its holdings in shares of Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Freeport-McMoRan by 194.4% during the 4th quarter. Versant Capital Management Inc now owns 1,042 shares of the natural resource company’s stock worth $40,000 after purchasing an additional 688 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $38.27 on Friday. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24. The company’s 50-day moving average is $39.36 and its two-hundred day moving average is $43.07. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a market cap of $54.98 billion, a PE ratio of 29.66, a PEG ratio of 0.85 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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 7.42% and a return on equity of 7.50%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. BMO Capital Markets reduced their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Raymond James increased their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Scotiabank cut their price objective on 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. Finally, Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their target price for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Nine investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Company 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.