Envestnet Portfolio Solutions Inc. Acquires 3,333 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Envestnet Portfolio Solutions Inc. increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,405 shares of the natural resource company’s stock after acquiring an additional 3,333 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Freeport-McMoRan were worth $1,386,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Continuum Advisory LLC grew its stake in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. PFG Investments LLC increased its holdings in shares of Freeport-McMoRan by 1.3% in 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 during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Freeport-McMoRan by 14.6% during the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after buying an additional 287 shares during the period. SeaCrest Wealth Management LLC grew its stake in Freeport-McMoRan by 1.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock valued at $727,000 after buying an additional 307 shares during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in Freeport-McMoRan by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 20,303 shares of the natural resource company’s stock valued at $1,014,000 after acquiring an additional 323 shares during the period. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Down 1.0 %

FCX opened at $40.31 on Friday. The company has a market cap of $57.93 billion, a P/E ratio of 31.25, a PEG 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. The company’s 50 day moving average is $38.03 and its 200-day moving average is $41.96. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on FCX. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their target price for the company from $48.00 to $52.00 in a research report on Thursday. Scotiabank lowered their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. 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, StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

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.