Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 12.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 41,797 shares of the natural resource company’s stock after selling 6,138 shares during the quarter. Parallel Advisors LLC’s holdings in Freeport-McMoRan were worth $1,592,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $25,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC boosted its holdings in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $29,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 0.8 %

Shares of FCX stock opened at $39.82 on Wednesday. The stock 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. Freeport-McMoRan Inc. has a fifty-two week low of $33.98 and a fifty-two week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The company has a 50 day moving average price of $37.97 and a 200 day moving average price of $42.01.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FCX. BMO Capital Markets decreased their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Thursday, March 6th. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Finally, Scotiabank lowered their target price 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. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

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.