Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC lessened its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,399 shares of the natural resource company’s stock after selling 2,693 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Freeport-McMoRan were worth $2,529,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its stake in Freeport-McMoRan by 9.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after purchasing an additional 14,501 shares during the last quarter. Easterly Investment Partners LLC grew its holdings in Freeport-McMoRan by 137.5% in the 3rd quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock valued at $7,375,000 after buying an additional 85,542 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Freeport-McMoRan in the 3rd quarter valued at about $754,000. Summit Global Investments grew its holdings in Freeport-McMoRan by 1,559.3% in the 3rd quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock valued at $3,819,000 after buying an additional 71,883 shares during the period. Finally, AIA Group Ltd grew its holdings in Freeport-McMoRan by 16.2% in the 3rd quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock valued at $4,604,000 after buying an additional 12,887 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 1.3 %

Shares of NYSE:FCX opened at $37.66 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 $34.26 and a 52-week high of $55.24. The company has a 50 day moving average of $38.13 and a two-hundred day moving average of $42.45. The company has a market capitalization of $54.11 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data 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 net margin of 7.42% and a return on equity of 7.50%. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded 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. BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Scotiabank decreased their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

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.