RPG Investment Advisory LLC Boosts Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

RPG Investment Advisory LLC grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,827 shares of the natural resource company’s stock after buying an additional 1,185 shares during the period. RPG Investment Advisory LLC’s holdings in Freeport-McMoRan were worth $10,008,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FCX. Asset Planning Inc purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC lifted its holdings in Freeport-McMoRan by 487.8% in the 4th 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 in the last quarter. Roxbury Financial LLC purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $28,000. Financial Life Planners purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $36,000. Finally, Continuum Advisory LLC lifted its holdings in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $36.97 on Monday. The stock’s fifty day moving average is $38.53 and its two-hundred day moving average is $42.75. The company has a market capitalization of $53.13 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results 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 7.50% and a net margin of 7.42%. As a group, analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of research analyst reports. Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price target for the stock from $48.00 to $40.00 in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets decreased their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Scotiabank decreased their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.