Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Investment Advisory Services Inc. TX ADV

Investment Advisory Services Inc. TX ADV lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,015 shares of the natural resource company’s stock after selling 462 shares during the quarter. Investment Advisory Services Inc. TX ADV’s holdings in Freeport-McMoRan were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC raised its stake in Freeport-McMoRan by 487.8% during the 4th 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 in the last quarter. Godsey & Gibb Inc. grew its holdings in shares of Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 346 shares during the last quarter. Financial Life Planners acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth about $36,000. Continuum Advisory LLC lifted its holdings in shares of Freeport-McMoRan by 46.8% in 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. Finally, Versant Capital Management Inc boosted its position in shares of Freeport-McMoRan by 194.4% in the 4th quarter. Versant Capital Management Inc now owns 1,042 shares of the natural resource company’s stock valued at $40,000 after purchasing an additional 688 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FCX shares. JPMorgan Chase & Co. cut their target price on shares of 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 shares of 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 note on Tuesday, January 7th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Scotiabank dropped their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group cut 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 research report on Friday, January 24th. Nine investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $38.27 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $39.36 and a 200-day moving average of $43.06. The stock has a market cap of $54.98 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. On average, analysts expect that Freeport-McMoRan Inc. will post 1.71 EPS 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.