Roxbury Financial LLC Makes New Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Roxbury Financial LLC purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 723 shares of the natural resource company’s stock, valued at approximately $28,000.

Other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC lifted its holdings in shares of Freeport-McMoRan by 9.7% in the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after purchasing an additional 14,501 shares in the last quarter. Easterly Investment Partners LLC lifted its holdings in shares of Freeport-McMoRan by 137.5% in the third quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock valued at $7,375,000 after purchasing an additional 85,542 shares in the last quarter. Summit Global Investments lifted its holdings in shares of Freeport-McMoRan by 1,559.3% in the third quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock valued at $3,819,000 after purchasing an additional 71,883 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Freeport-McMoRan in the third quarter valued at about $754,000. Finally, AIA Group Ltd lifted its holdings in shares of Freeport-McMoRan by 16.2% in the third quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock valued at $4,604,000 after purchasing an additional 12,887 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $39.46 on Friday. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The business’s 50 day moving average price is $38.93 and its two-hundred day moving average price is $42.86. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $56.69 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 0.81 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last posted its 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%. On average, analysts predict that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Wall Street Analyst Weigh In

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