Citizens Financial Group Inc. RI Has $7.06 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Citizens Financial Group Inc. RI trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 185,473 shares of the natural resource company’s stock after selling 1,734 shares during the period. Citizens Financial Group Inc. RI’s holdings in Freeport-McMoRan were worth $7,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Asset Planning Inc bought a new position in Freeport-McMoRan in the fourth quarter valued at $25,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC lifted its holdings in Freeport-McMoRan by 487.8% during 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 bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $29,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FCX has been the topic of several research reports. Scotiabank decreased 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. JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, March 6th. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Finally, Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Freeport-McMoRan Price Performance

FCX stock opened at $35.88 on Wednesday. The company has a fifty day moving average price of $37.94 and a 200-day moving average price of $42.22. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24. The company has a market capitalization of $51.55 billion, a P/E ratio of 27.81, a PEG ratio of 0.87 and a beta of 1.87. 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 (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 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%. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

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.