Corient Private Wealth LLC Lowers Position in Freeport-McMoRan Inc. (NYSE:FCX)

Corient Private Wealth LLC lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 73.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 161,227 shares of the natural resource company’s stock after selling 451,212 shares during the quarter. Corient Private Wealth LLC’s holdings in Freeport-McMoRan were worth $6,140,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Continuum Advisory LLC lifted its holdings in shares of Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares in the last quarter. PFG Investments LLC raised its stake in Freeport-McMoRan by 1.3% during the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after purchasing an additional 283 shares in the last quarter. Larson Financial Group LLC raised its stake in Freeport-McMoRan by 14.6% during the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock valued at $112,000 after purchasing an additional 287 shares in the last quarter. SeaCrest Wealth Management LLC raised its stake in Freeport-McMoRan by 1.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock valued at $727,000 after purchasing an additional 307 shares in the last quarter. Finally, King Luther Capital Management Corp raised its stake in Freeport-McMoRan by 1.6% during the third quarter. King Luther Capital Management Corp now owns 20,303 shares of the natural resource company’s stock valued at $1,014,000 after purchasing an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FCX. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Sanford C. Bernstein downgraded shares of 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 note on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Trading Down 1.0 %

NYSE FCX opened at $40.31 on Friday. The company’s 50-day moving average price is $38.03 and its 200-day moving average price is $41.96. 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 stock has a market cap of $57.93 billion, a PE ratio of 31.25, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) 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%. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share 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.