Guidance Capital Inc. Has $1.48 Million Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Guidance Capital Inc. increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 142.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,154 shares of the natural resource company’s stock after purchasing an additional 23,004 shares during the period. Guidance Capital Inc.’s holdings in Freeport-McMoRan were worth $1,480,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Matrix Trust Co bought a new stake in Freeport-McMoRan in the 3rd quarter valued at approximately $25,000. Laurel Wealth Advisors LLC lifted its position in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares in 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 valued at $29,000 after purchasing an additional 346 shares in the last quarter. Financial Life Planners acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $36,000. Finally, Continuum Advisory LLC lifted its position in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $36.49 on Wednesday. The company has a 50-day simple moving average of $39.75 and a two-hundred day simple moving average of $43.21. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The stock has a market capitalization of $52.43 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 0.85 and a beta of 1.85. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

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%. Analysts forecast that Freeport-McMoRan Inc. will post 1.75 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on FCX. JPMorgan Chase & Co. lowered their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James boosted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein cut shares of 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 dropped their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Nine 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.46.

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.