Gables Capital Management Inc. Purchases 400 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Gables Capital Management Inc. lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,301 shares of the natural resource company’s stock after purchasing an additional 400 shares during the quarter. Gables Capital Management Inc.’s holdings in Freeport-McMoRan were worth $697,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Asset Planning Inc acquired a new position in Freeport-McMoRan during the 4th quarter worth about $25,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC lifted its position in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after buying an additional 600 shares in the last quarter. Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth about $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $34.48 on Tuesday. The company has a market capitalization of $49.54 billion, a price-to-earnings ratio of 26.73, a P/E/G ratio of 0.87 and a beta of 1.87. The firm’s 50 day simple moving average is $37.98 and its 200 day simple moving average is $42.28. 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 Inc. has a fifty-two week low of $33.98 and a fifty-two week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FCX shares. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. BMO Capital Markets cut their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. cut their target price 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. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently 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.