Dynamic Advisor Solutions LLC Raises Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Dynamic Advisor Solutions LLC increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 41.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,060 shares of the natural resource company’s stock after purchasing an additional 7,032 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Freeport-McMoRan were worth $916,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Matrix Trust Co purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Freeport-McMoRan during the second quarter valued at about $27,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 487.8% in the 4th 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 in the last quarter. Godsey & Gibb Inc. grew its position in shares of Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after buying an additional 346 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FCX. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their target price for the company from $48.00 to $40.00 in a research note on Friday. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Scotiabank decreased their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday. BMO Capital Markets dropped their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Stock Down 1.9 %

NYSE:FCX opened at $37.78 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The company’s fifty day moving average price is $40.81 and its 200-day moving average price is $43.85. Freeport-McMoRan Inc. has a 1-year low of $36.26 and a 1-year high of $55.24. The firm has a market capitalization of $54.29 billion, a P/E ratio of 27.58, a PEG ratio of 2.39 and a beta of 1.87.

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 the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. As a group, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.42 EPS for the current year.

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.