Brighton Jones LLC Increases Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Brighton Jones LLC increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 24.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,807 shares of the natural resource company’s stock after purchasing an additional 2,882 shares during the quarter. Brighton Jones LLC’s holdings in Freeport-McMoRan were worth $564,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Matrix Trust Co purchased a new position in shares of Freeport-McMoRan in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Freeport-McMoRan during the second quarter worth $27,000. Laurel Wealth Advisors LLC boosted its position in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the last quarter. Godsey & Gibb Inc. grew its stake in Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares during the period. Finally, Continuum Advisory LLC increased its position in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $37.78 on Monday. The firm’s 50 day simple moving average is $40.81 and its 200 day simple moving average is $43.85. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 1-year low of $36.26 and a 1-year high of $55.24. The firm has a market capitalization 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.

Freeport-McMoRan (NYSE:FCX) last issued 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 return on equity of 7.40% and a net margin of 7.81%. As a group, analysts expect that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FCX has been the subject of several research reports. Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price target for the company from $48.00 to $40.00 in a research report on Friday. BMO Capital Markets reduced their target price 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. JPMorgan Chase & Co. dropped their price objective 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 reduced their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, Raymond James boosted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

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.