Mosley Wealth Management Acquires 1,000 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Mosley Wealth Management lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 19.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,224 shares of the natural resource company’s stock after acquiring an additional 1,000 shares during the period. Mosley Wealth Management’s holdings in Freeport-McMoRan were worth $226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Planning Inc acquired a new position in Freeport-McMoRan during the 4th quarter valued at about $25,000. Vision Financial Markets LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC boosted its position in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan in the 4th quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Freeport-McMoRan during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $40.31 on Friday. The firm’s 50 day moving average is $38.03 and its 200 day moving average is $41.97. The stock has a market capitalization of $57.93 billion, a P/E ratio of 31.25, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last posted its 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 return on equity of 7.50% and a net margin of 7.42%. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group upgraded 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 report on Thursday, February 27th. Finally, BMO Capital Markets reduced their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.