Mutual Advisors LLC Grows Position in Freeport-McMoRan Inc. (NYSE:FCX)

Mutual Advisors LLC increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,859 shares of the natural resource company’s stock after purchasing an additional 812 shares during the period. Mutual Advisors LLC’s holdings in Freeport-McMoRan were worth $635,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in shares of 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 period. Geode Capital Management LLC boosted its position in Freeport-McMoRan by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after buying an additional 529,099 shares during the period. Franklin Resources Inc. boosted its position in Freeport-McMoRan by 9.5% in the 3rd 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 position in Freeport-McMoRan by 4,767.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after buying an additional 11,687,982 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Freeport-McMoRan by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company’s stock valued at $410,494,000 after buying an additional 127,251 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Down 1.9 %

NYSE FCX opened at $37.78 on Monday. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. The firm has a market cap of $54.29 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. The company has a 50 day moving average price of $40.81 and a 200 day moving average price of $43.85. Freeport-McMoRan Inc. has a 52 week low of $36.26 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 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FCX shares. BMO Capital Markets lowered their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $40.00 in a research report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, Scotiabank reduced their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan currently has a consensus 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.