Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 23.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 202,927 shares of the natural resource company’s stock after purchasing an additional 38,287 shares during the period. Sanctuary Advisors LLC’s holdings in Freeport-McMoRan were worth $7,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan during the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC boosted its stake in Freeport-McMoRan by 487.8% during the fourth 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. Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the fourth quarter worth about $28,000. Financial Life Planners bought a new stake in Freeport-McMoRan in the fourth quarter worth about $36,000. Finally, Continuum Advisory LLC lifted its holdings in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 236 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Sanford C. Bernstein downgraded shares of 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 report on Tuesday, January 7th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. Raymond James boosted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, 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 report on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Stock Down 1.8 %

Freeport-McMoRan stock opened at $38.58 on Thursday. The firm’s 50 day moving average price is $38.68 and its two-hundred day moving average price is $42.76. The firm has a market cap of $55.44 billion, a PE ratio of 29.91, a P/E/G ratio of 0.88 and a beta of 1.85. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month 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.

Freeport-McMoRan (NYSE:FCX) last announced 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 return on equity of 7.50% and a net margin of 7.42%. On average, research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal 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.