EverSource Wealth Advisors LLC Reduces Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

EverSource Wealth Advisors LLC trimmed its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 23.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,365 shares of the natural resource company’s stock after selling 1,921 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $242,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FCX. Asset Planning Inc bought a new position in Freeport-McMoRan in the 4th quarter worth $25,000. Vision Financial Markets LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC grew its stake in shares of 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 acquiring an additional 600 shares during the period. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan in the 4th quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately $29,000. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Up 3.5 %

Shares of NYSE:FCX opened at $38.91 on Friday. The firm has a market capitalization of $55.91 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The business has a 50 day simple moving average of $37.93 and a two-hundred day simple moving average of $42.09. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last issued 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 net margin of 7.42% and a return on equity of 7.50%. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

FCX has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research 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 on the stock in a report on Thursday, March 6th. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.