Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 22.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,854 shares of the natural resource company’s stock after selling 1,946 shares during the period. Parkside Financial Bank & Trust’s holdings in Freeport-McMoRan were worth $261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of FCX. Asset Planning Inc purchased a new position in Freeport-McMoRan in the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC raised its position 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 in the last quarter. Roxbury Financial LLC purchased a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $28,000. Financial Life Planners acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth about $36,000. Finally, Continuum Advisory LLC increased its stake in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.3 %

NYSE:FCX opened at $36.92 on Friday. 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 Inc. has a 52-week low of $34.89 and a 52-week high of $55.24. The stock’s 50 day moving average price is $38.31 and its 200 day moving average price is $42.59. The company has a market capitalization of $53.05 billion, a PE ratio of 28.62, a P/E/G ratio of 0.87 and a beta of 1.85.

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%. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FCX. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $48.00 in a research note on Thursday. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Scotiabank dropped their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Sanford C. Bernstein cut 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, JPMorgan Chase & Co. lowered their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average price target of $52.04.

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.