Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,739 shares of the natural resource company’s stock after selling 1,360 shares during the period. Kentucky Retirement Systems’ holdings in Freeport-McMoRan were worth $3,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in Freeport-McMoRan by 3.6% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 16,136 shares of the natural resource company’s stock valued at $616,000 after acquiring an additional 555 shares in the last quarter. Boston Financial Mangement LLC increased its position in shares of Freeport-McMoRan by 22.9% in the 4th quarter. Boston Financial Mangement LLC now owns 5,272 shares of the natural resource company’s stock valued at $201,000 after purchasing an additional 981 shares during the last quarter. Mader & Shannon Wealth Management Inc. acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at $1,084,000. Ieq Capital LLC lifted its position in shares of Freeport-McMoRan by 18.6% during the 4th quarter. Ieq Capital LLC now owns 76,538 shares of the natural resource company’s stock worth $2,915,000 after purchasing an additional 11,984 shares during the last quarter. Finally, Private Wealth Partners LLC grew its stake in shares of Freeport-McMoRan by 2.6% during the fourth quarter. Private Wealth Partners LLC now owns 258,627 shares of the natural resource company’s stock worth $9,849,000 after purchasing an additional 6,475 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of 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 stock has a market capitalization of $53.12 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.86 and a beta of 1.85. The company has a 50-day simple moving average of $38.53 and a 200-day simple moving average of $42.71. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data 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%. On average, analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. 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 research note on Thursday, January 16th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price target for the company from $48.00 to $40.00 in a report on Friday, January 24th. BMO Capital Markets cut their price objective 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. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Nine 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.46.

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.