Souders Financial Advisors Has $2.38 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Souders Financial Advisors reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 31.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 62,450 shares of the natural resource company’s stock after selling 28,469 shares during the period. Souders Financial Advisors’ holdings in Freeport-McMoRan were worth $2,378,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FCX. Fisher Asset Management LLC raised its holdings in Freeport-McMoRan by 2.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after purchasing an additional 1,392,494 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Freeport-McMoRan by 1.9% during the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock worth $1,436,455,000 after buying an additional 529,099 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Freeport-McMoRan by 9.5% in the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after buying an additional 2,366,187 shares during the period. Mountaineer Partners Management LLC boosted its stake in Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after acquiring an additional 11,687,982 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Freeport-McMoRan by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,487,881 shares of the natural resource company’s stock worth $323,219,000 after acquiring an additional 264,843 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 1.7 %

NYSE:FCX opened at $34.93 on Wednesday. The company has a market cap of $50.20 billion, a PE ratio of 27.08, a PEG ratio of 0.87 and a beta of 1.85. The stock has a 50-day simple moving average of $38.23 and a 200 day simple moving average of $42.54. 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 Inc. has a 52-week low of $34.26 and a 52-week high of $55.24.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FCX shares. Scotiabank cut their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets cut 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. Finally, Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price objective for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.