Cantor Fitzgerald Investment Advisors L.P. Grows Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Cantor Fitzgerald Investment Advisors L.P. raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,088 shares of the natural resource company’s stock after purchasing an additional 525 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Freeport-McMoRan were worth $498,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Laurel Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 600 shares during the period. Godsey & Gibb Inc. boosted its holdings in Freeport-McMoRan by 150.4% during the 3rd 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 position in Freeport-McMoRan in the 4th quarter valued at about $36,000. Continuum Advisory LLC increased its stake in Freeport-McMoRan by 46.8% during the third 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 period. Finally, Versant Capital Management Inc boosted its stake in shares of Freeport-McMoRan by 194.4% in 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 hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 3.0 %

NYSE:FCX opened at $38.27 on Friday. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52-week low of $34.89 and a 52-week high of $55.24. The stock’s 50 day moving average price is $39.36 and its 200 day moving average price is $43.07. The company has a market capitalization of $54.98 billion, a PE ratio of 29.66, a P/E/G ratio of 0.85 and a beta of 1.85.

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 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%. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FCX. BMO Capital Markets reduced their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their target price for the company from $48.00 to $40.00 in a report on Friday, January 24th. JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Raymond James upped their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus target price of $51.46.

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.