Catalyst Capital Advisors LLC Acquires 2,222 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Catalyst Capital Advisors LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,900 shares of the natural resource company’s stock after purchasing an additional 2,222 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Freeport-McMoRan were worth $796,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC grew its position in Freeport-McMoRan by 2.0% in the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock worth $560,000 after acquiring an additional 231 shares in the last quarter. Prospera Private Wealth LLC boosted its holdings in shares of Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after buying an additional 234 shares during the period. Continuum Advisory LLC boosted its holdings 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 worth $37,000 after buying an additional 236 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Freeport-McMoRan by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock worth $2,518,000 after buying an additional 244 shares during the period. Finally, Intellectus Partners LLC boosted its holdings in shares of Freeport-McMoRan by 0.4% during the 3rd quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company’s stock worth $3,582,000 after buying an additional 256 shares during the period. 80.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FCX shares. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Raymond James upped their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Trading Down 1.9 %

Shares of FCX stock opened at $39.46 on Tuesday. Freeport-McMoRan Inc. has a 52-week low of $34.89 and a 52-week high of $55.24. The stock has a market cap of $56.69 billion, a price-to-earnings ratio of 30.59, a P/E/G ratio of 0.81 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a fifty day moving average of $38.84 and a 200-day moving average of $42.81.

Freeport-McMoRan (NYSE:FCX) last announced 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, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current fiscal year.

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.