Commonwealth Equity Services LLC Has $11.41 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Commonwealth Equity Services LLC increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 299,677 shares of the natural resource company’s stock after buying an additional 4,571 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Freeport-McMoRan were worth $11,412,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Freeport-McMoRan by 240.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock valued at $3,994,000 after acquiring an additional 56,475 shares during the last quarter. AMG National Trust Bank lifted its stake in Freeport-McMoRan by 10.2% in the third quarter. AMG National Trust Bank now owns 6,018 shares of the natural resource company’s stock valued at $300,000 after acquiring an additional 558 shares during the last quarter. Meeder Advisory Services Inc. lifted its stake in Freeport-McMoRan by 0.9% in the third quarter. Meeder Advisory Services Inc. now owns 32,339 shares of the natural resource company’s stock valued at $1,614,000 after acquiring an additional 298 shares during the last quarter. Prospera Financial Services Inc lifted its stake in Freeport-McMoRan by 15.6% in the third quarter. Prospera Financial Services Inc now owns 71,497 shares of the natural resource company’s stock valued at $3,569,000 after acquiring an additional 9,648 shares during the last quarter. Finally, Princeton Capital Management LLC lifted its stake in Freeport-McMoRan by 4.4% in the third quarter. Princeton Capital Management LLC now owns 25,045 shares of the natural resource company’s stock valued at $1,250,000 after acquiring an additional 1,065 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of analyst reports. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Scotiabank reduced their price objective on shares of 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. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

Freeport-McMoRan Trading Up 0.8 %

Shares of FCX stock opened at $39.82 on Wednesday. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The firm’s fifty day simple moving average is $37.97 and its 200 day simple moving average is $42.01. The firm has a market capitalization of $57.23 billion, a P/E ratio of 30.87, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. 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 (NYSE:FCX) last announced its earnings results 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 return on equity of 7.50% and a net margin of 7.42%. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS 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.