Cantor Fitzgerald Investment Advisors L.P. Increases Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Cantor Fitzgerald Investment Advisors L.P. increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 13,088 shares of the natural resource company’s stock after purchasing an additional 525 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Freeport-McMoRan were worth $498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brookstone Capital Management increased its position in Freeport-McMoRan by 53.8% during the third quarter. Brookstone Capital Management now owns 13,044 shares of the natural resource company’s stock worth $651,000 after buying an additional 4,565 shares in the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of Freeport-McMoRan by 5.8% during the third quarter. Daymark Wealth Partners LLC now owns 9,274 shares of the natural resource company’s stock valued at $463,000 after acquiring an additional 510 shares during the last quarter. Marcum Wealth LLC lifted its holdings in Freeport-McMoRan by 15.5% in the 3rd quarter. Marcum Wealth LLC now owns 12,707 shares of the natural resource company’s stock valued at $634,000 after purchasing an additional 1,708 shares in the last quarter. Cypress Wealth Services LLC acquired a new stake in shares of Freeport-McMoRan during the 3rd quarter worth about $309,000. Finally, LifePro Asset Management lifted its stake in shares of Freeport-McMoRan by 2.5% during the third quarter. LifePro Asset Management now owns 15,236 shares of the natural resource company’s stock valued at $761,000 after buying an additional 377 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $38.27 on Friday. The firm’s 50-day simple moving average is $39.36 and its 200 day simple moving average is $43.07. 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 has a market cap of $54.98 billion, a P/E ratio of 29.66, a P/E/G ratio of 0.85 and a beta of 1.85. Freeport-McMoRan Inc. has a fifty-two week low of $34.89 and a fifty-two week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its 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 net margin of 7.42% and a return on equity of 7.50%. Equities analysts expect that Freeport-McMoRan Inc. will post 1.75 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on FCX. Scotiabank dropped their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. lowered their price target 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. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Nine investment 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. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

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.