RW Investment Management LLC Sells 295 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

RW Investment Management LLC decreased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,806 shares of the natural resource company’s stock after selling 295 shares during the period. RW Investment Management LLC’s holdings in Freeport-McMoRan were worth $830,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mader & Shannon Wealth Management Inc. purchased a new position in Freeport-McMoRan in the 4th quarter worth about $1,084,000. Ieq Capital LLC raised its position in Freeport-McMoRan by 18.6% in the 4th quarter. Ieq Capital LLC now owns 76,538 shares of the natural resource company’s stock worth $2,915,000 after buying an additional 11,984 shares during the last quarter. Private Wealth Partners LLC raised its position in Freeport-McMoRan by 2.6% in the 4th quarter. Private Wealth Partners LLC now owns 258,627 shares of the natural resource company’s stock worth $9,849,000 after buying an additional 6,475 shares during the last quarter. Financial Sense Advisors Inc. raised its position in Freeport-McMoRan by 166.3% in the 4th quarter. Financial Sense Advisors Inc. now owns 12,124 shares of the natural resource company’s stock worth $462,000 after buying an additional 7,571 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new position in Freeport-McMoRan in the 4th quarter worth about $426,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.8 %

Shares of NYSE:FCX opened at $38.58 on Thursday. The stock has a 50 day moving average of $38.68 and a 200 day moving average of $42.76. The company has a market cap of $55.44 billion, a PE ratio of 29.91, a price-to-earnings-growth ratio of 0.88 and a beta of 1.85. 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 Inc. has a 12-month low of $34.89 and a 12-month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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 net margin of 7.42% and a return on equity of 7.50%. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FCX shares. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Scotiabank reduced their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, BMO Capital Markets reduced their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan 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.