Soltis Investment Advisors LLC Has $384,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Soltis Investment Advisors LLC boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,090 shares of the natural resource company’s stock after acquiring an additional 346 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FCX. Exchange Traded Concepts LLC grew its holdings in shares of Freeport-McMoRan by 22.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,998 shares of the natural resource company’s stock valued at $749,000 after acquiring an additional 2,716 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Freeport-McMoRan by 8.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,680 shares of the natural resource company’s stock valued at $234,000 after purchasing an additional 380 shares in the last quarter. Procyon Advisors LLC increased its position in Freeport-McMoRan by 7.2% in the 3rd quarter. Procyon Advisors LLC now owns 31,490 shares of the natural resource company’s stock worth $1,573,000 after purchasing an additional 2,120 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Freeport-McMoRan in the 3rd quarter worth about $129,000. Finally, Creative Planning raised its stake in shares of Freeport-McMoRan by 10.6% during the 3rd quarter. Creative Planning now owns 224,277 shares of the natural resource company’s stock worth $11,196,000 after purchasing an additional 21,584 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $37.62 on Wednesday. The company has a market cap of $54.05 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 0.81 and a beta of 1.85. The business has a 50 day moving average price of $39.13 and a 200 day moving average price of $42.95. 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 twelve month low of $34.89 and a twelve month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Research analysts predict that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. BMO Capital Markets cut their price target on shares of 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 cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Finally, Raymond James raised their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.46.

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.