Crumly & Associates Inc. Buys 781 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Crumly & Associates Inc. grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 13,063 shares of the natural resource company’s stock after acquiring an additional 781 shares during the quarter. Crumly & Associates Inc.’s holdings in Freeport-McMoRan were worth $497,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Fidelis Capital Partners LLC lifted its position in shares of Freeport-McMoRan by 2.0% during the 3rd quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock valued at $560,000 after acquiring an additional 231 shares during the period. Prospera Private Wealth LLC lifted its position in shares of Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after acquiring an additional 234 shares during the period. Continuum Advisory LLC lifted its position in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 236 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Freeport-McMoRan by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock worth $2,518,000 after buying an additional 244 shares during the last quarter. Finally, Intellectus Partners LLC lifted its position in shares of Freeport-McMoRan by 0.4% during the 3rd quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company’s stock worth $3,582,000 after buying an additional 256 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Up 1.0 %

FCX stock opened at $38.95 on Friday. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $38.62 and its 200-day moving average is $42.74. The firm has a market capitalization of $55.97 billion, a PE ratio of 30.20, a P/E/G ratio of 0.86 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly 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 net margin of 7.42% and a return on equity of 7.50%. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets decreased their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. 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 report on Thursday, January 16th. Finally, Scotiabank cut their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.