Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 608,072 shares of the natural resource company’s stock after selling 11,456 shares during the quarter. Freeport-McMoRan makes up approximately 1.4% of Hodges Capital Management Inc.’s holdings, making the stock its 18th biggest holding. Hodges Capital Management Inc.’s holdings in Freeport-McMoRan were worth $23,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Matrix Trust Co bought a new stake in shares of Freeport-McMoRan in the 3rd quarter worth approximately $25,000. Laurel Wealth Advisors LLC lifted its stake in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares during the last quarter. Godsey & Gibb Inc. grew its position in Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 346 shares in the last quarter. Financial Life Planners acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth $36,000. Finally, Continuum Advisory LLC raised its holdings 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 purchasing an additional 236 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $35.81 on Monday. The firm’s 50-day moving average is $40.06 and its 200-day moving average is $43.35. The company has a market cap of $51.46 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 0.85 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 52-week low of $35.46 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) 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 research analysts anticipate that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

FCX has been the subject of a number of recent research reports. Scotiabank decreased 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 report on Friday, January 24th. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Raymond James upped their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price target for the company from $48.00 to $40.00 in a report on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.