Tamar Securities LLC Purchases 45,113 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Tamar Securities LLC boosted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 411,292 shares of the natural resource company’s stock after purchasing an additional 45,113 shares during the quarter. Freeport-McMoRan makes up 2.2% of Tamar Securities LLC’s portfolio, making the stock its 21st biggest position. Tamar Securities LLC’s holdings in Freeport-McMoRan were worth $15,662,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FCX. JPMorgan Chase & Co. cut their target price 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. Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their target price for the stock from $48.00 to $40.00 in a research note on Friday. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Raymond James increased their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, seven 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 an average rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Stock Down 3.0 %

NYSE FCX opened at $36.67 on Tuesday. The stock’s 50-day moving average price is $40.67 and its 200-day moving average price is $43.74. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52 week low of $36.26 and a 52 week high of $55.24. The company has a market capitalization of $52.70 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87.

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%. On average, equities research analysts predict that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current 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.