D.A. Davidson & CO. Sells 11,121 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

D.A. Davidson & CO. lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 255,671 shares of the natural resource company’s stock after selling 11,121 shares during the period. D.A. Davidson & CO.’s holdings in Freeport-McMoRan were worth $9,736,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $25,000. Laurel Wealth Advisors LLC grew its position in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $28,000. Godsey & Gibb Inc. boosted its position in shares of Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Finally, Financial Life Planners bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $36,000. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FCX shares. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their target price for the company from $48.00 to $40.00 in a research report on Friday, January 24th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. 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 report on Friday, January 24th. Finally, Scotiabank cut their target price 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. Nine 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $39.27 on Wednesday. The company has a market cap of $56.42 billion, a PE ratio of 30.44, 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. The business has a 50 day moving average price of $38.77 and a 200-day moving average price of $42.79. 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 (NYSE:FCX) last issued 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 7.50% and a net margin of 7.42%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current fiscal year.

About Freeport-McMoRan

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.