Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,068 shares of the natural resource company’s stock after purchasing an additional 408 shares during the quarter. Kovack Advisors Inc.’s holdings in Freeport-McMoRan were worth $383,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Asset Planning Inc acquired a new position in Freeport-McMoRan in the fourth quarter valued at about $25,000. Laurel Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 600 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $28,000. Continuum Advisory LLC lifted its holdings in shares of Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Freeport-McMoRan during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. BMO Capital Markets cut 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. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their target price for the company from $40.00 to $48.00 in a report on Thursday. Scotiabank cut their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Trading Down 1.3 %

NYSE FCX opened at $36.92 on Friday. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24. The firm has a 50 day moving average of $38.31 and a two-hundred day moving average of $42.59. The stock has a market capitalization of $53.05 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 0.87 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 released 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%. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

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.