Hedeker Wealth LLC Has $2.56 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Hedeker Wealth LLC raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,341 shares of the natural resource company’s stock after purchasing an additional 641 shares during the quarter. Hedeker Wealth LLC’s holdings in Freeport-McMoRan were worth $2,564,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bleakley Financial Group LLC boosted its holdings in shares of Freeport-McMoRan by 17.1% during the 4th quarter. Bleakley Financial Group LLC now owns 78,350 shares of the natural resource company’s stock valued at $2,984,000 after acquiring an additional 11,441 shares in the last quarter. Trilogy Capital Inc. boosted its holdings in shares of Freeport-McMoRan by 1.3% during the 4th quarter. Trilogy Capital Inc. now owns 195,270 shares of the natural resource company’s stock valued at $7,436,000 after acquiring an additional 2,504 shares in the last quarter. Hager Investment Management Services LLC bought a new position in Freeport-McMoRan during the 4th quarter worth $747,000. Stratos Wealth Partners LTD. raised its position in Freeport-McMoRan by 5.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 40,195 shares of the natural resource company’s stock worth $1,531,000 after purchasing an additional 2,001 shares during the last quarter. Finally, Guidance Capital Inc. raised its position in Freeport-McMoRan by 142.4% during the 4th quarter. Guidance Capital Inc. now owns 39,154 shares of the natural resource company’s stock worth $1,480,000 after purchasing an additional 23,004 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

FCX has been the subject of several analyst reports. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Scotiabank decreased their target price on 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. 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. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, BMO Capital Markets cut 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. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Trading Up 1.3 %

Shares of FCX stock opened at $37.15 on Friday. The company’s fifty day simple moving average is $39.48 and its two-hundred day simple moving average is $43.13. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24. The stock has a market capitalization of $53.38 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 0.85 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results 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%. As a group, analysts anticipate that Freeport-McMoRan Inc. will post 1.75 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.