Boston Financial Mangement LLC Has $201,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Boston Financial Mangement LLC grew its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 22.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,272 shares of the natural resource company’s stock after buying an additional 981 shares during the quarter. Boston Financial Mangement LLC’s holdings in Freeport-McMoRan were worth $201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fidelis Capital Partners LLC boosted its holdings in shares of Freeport-McMoRan by 2.0% in the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock valued at $560,000 after buying an additional 231 shares during the period. Prospera Private Wealth LLC lifted its position in shares of Freeport-McMoRan by 4.4% in the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after purchasing an additional 234 shares in the last quarter. Continuum Advisory LLC lifted its position 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 purchasing an additional 236 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Freeport-McMoRan by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock worth $2,518,000 after purchasing an additional 244 shares in the last quarter. Finally, Intellectus Partners LLC lifted its position in shares of Freeport-McMoRan by 0.4% in the third quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company’s stock worth $3,582,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FCX shares. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price target for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. BMO Capital Markets dropped their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $36.97 on Friday. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24. The company has a market cap of $53.12 billion, a P/E ratio of 28.66, a P/E/G ratio of 0.86 and a beta of 1.85. The firm’s fifty day moving average price is $38.53 and its two-hundred day moving average price is $42.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate 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 expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan 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.