Financial Life Planners Invests $36,000 in Freeport-McMoRan Inc. (NYSE:FCX)

Financial Life Planners bought a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 935 shares of the natural resource company’s stock, valued at approximately $36,000.

A number of other hedge funds have also added to or reduced their stakes in FCX. Matrix Trust Co acquired a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $25,000. Laurel Wealth Advisors LLC boosted its stake in Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after acquiring an additional 600 shares in the last quarter. Godsey & Gibb Inc. grew its holdings in Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 346 shares during the period. Continuum Advisory LLC increased its stake in Freeport-McMoRan by 46.8% in 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 in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Freeport-McMoRan by 194.4% during the fourth quarter. Versant Capital Management Inc now owns 1,042 shares of the natural resource company’s stock valued at $40,000 after purchasing an additional 688 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $35.86 on Tuesday. The business’s fifty day simple moving average is $39.89 and its 200 day simple moving average is $43.28. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12 month low of $34.89 and a 12 month high of $55.24. The firm has a market capitalization of $51.53 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 0.85 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly 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%. As a group, analysts anticipate that Freeport-McMoRan Inc. will post 1.75 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price target for the company from $48.00 to $40.00 in a research report on Friday, January 24th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, BMO Capital Markets dropped 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. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.