Jones Financial Companies Lllp Purchases 6,639 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Jones Financial Companies Lllp grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 28.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 30,190 shares of the natural resource company’s stock after acquiring an additional 6,639 shares during the quarter. Jones Financial Companies Lllp’s holdings in Freeport-McMoRan were worth $1,150,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Fisher Asset Management LLC lifted its position in shares of Freeport-McMoRan by 2.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock valued at $2,965,717,000 after acquiring an additional 1,392,494 shares during the period. Geode Capital Management LLC lifted its position in shares of Freeport-McMoRan by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after acquiring an additional 529,099 shares during the period. Franklin Resources Inc. lifted its position in shares of Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after acquiring an additional 2,366,187 shares during the period. Mountaineer Partners Management LLC lifted its position in shares of Freeport-McMoRan by 4,767.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after acquiring an additional 11,687,982 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Freeport-McMoRan by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company’s stock valued at $410,494,000 after acquiring an additional 127,251 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $36.97 on Friday. Freeport-McMoRan Inc. has a 52 week low of $34.26 and a 52 week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a market cap of $53.13 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The firm’s fifty day moving average is $38.10 and its 200-day moving average is $42.42.

Freeport-McMoRan (NYSE:FCX) last released its quarterly 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%. Sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analysts Set New Price Targets

FCX has been the subject of a number of recent analyst reports. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Scotiabank lowered their price target 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. 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. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Finally, Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

About Freeport-McMoRan

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.