Quotient Wealth Partners LLC Sells 1,338 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Quotient Wealth Partners LLC lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 12.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,834 shares of the natural resource company’s stock after selling 1,338 shares during the period. Quotient Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $374,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. Empirical Finance LLC raised its position in Freeport-McMoRan by 20.5% in the fourth quarter. Empirical Finance LLC now owns 59,495 shares of the natural resource company’s stock worth $2,266,000 after acquiring an additional 10,108 shares during the period. Empowered Funds LLC lifted its position in Freeport-McMoRan by 12.1% during the fourth quarter. Empowered Funds LLC now owns 233,385 shares of the natural resource company’s stock valued at $8,887,000 after purchasing an additional 25,143 shares in the last quarter. Apollon Wealth Management LLC increased its position in Freeport-McMoRan by 5.5% in the fourth quarter. Apollon Wealth Management LLC now owns 39,486 shares of the natural resource company’s stock worth $1,504,000 after buying an additional 2,055 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of Freeport-McMoRan by 4.2% in the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 13,088 shares of the natural resource company’s stock worth $498,000 after buying an additional 525 shares during the period. Finally, BayBridge Capital Group LLC purchased a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $580,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FCX has been the topic of several analyst reports. Scotiabank lowered their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their target price 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. BMO Capital Markets decreased 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. Raymond James upped their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Stock Up 3.0 %

Shares of FCX opened at $38.27 on Monday. The firm has a market capitalization of $54.98 billion, a P/E ratio of 29.66, a P/E/G ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24. The firm has a fifty day moving average price of $39.36 and a 200-day moving average price of $43.05. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 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%. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.71 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.