Quattro Financial Advisors LLC Has $1.98 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Quattro Financial Advisors LLC raised its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 30.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,800 shares of the natural resource company’s stock after purchasing an additional 11,538 shares during the period. Quattro Financial Advisors LLC’s holdings in Freeport-McMoRan were worth $1,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cidel Asset Management Inc. lifted its stake in Freeport-McMoRan by 5.7% in the 4th quarter. Cidel Asset Management Inc. now owns 7,722 shares of the natural resource company’s stock valued at $294,000 after purchasing an additional 414 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at $310,000. Beese Fulmer Investment Management Inc. boosted its holdings in shares of Freeport-McMoRan by 1.1% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 65,811 shares of the natural resource company’s stock valued at $2,506,000 after acquiring an additional 704 shares in the last quarter. Ameliora Wealth Management Ltd. bought a new stake in Freeport-McMoRan during the 4th quarter worth $46,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Freeport-McMoRan by 5.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 159,536 shares of the natural resource company’s stock worth $6,075,000 after acquiring an additional 8,195 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FCX shares. BMO Capital Markets cut 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, January 24th. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their target price for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. Raymond James upped their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Scotiabank cut their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Nine investment 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 company’s stock. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Trading Up 3.0 %

Shares of FCX stock opened at $38.27 on Friday. Freeport-McMoRan Inc. has a fifty-two week low of $34.89 and a fifty-two 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 stock has a 50 day simple moving average of $39.36 and a two-hundred day simple moving average of $43.07. The company has a market cap of $54.98 billion, a P/E ratio of 29.66, a PEG ratio of 0.85 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last released 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 forecast that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current year.

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.