Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. cut its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 9.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,213 shares of the natural resource company’s stock after selling 625 shares during the period. Wrapmanager Inc.’s holdings in Freeport-McMoRan were worth $237,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Asset Planning Inc acquired a new position in Freeport-McMoRan during the 4th quarter valued at about $25,000. Laurel Wealth Advisors LLC boosted its stake 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 valued at $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the 4th quarter valued at about $28,000. Financial Life Planners acquired a new position in Freeport-McMoRan during the 4th quarter valued at about $36,000. Finally, Continuum Advisory LLC boosted its stake in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 1.0 %

NYSE FCX opened at $36.76 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The company’s 50 day simple moving average is $38.38 and its 200 day simple moving average is $42.69. Freeport-McMoRan Inc. has a 12 month low of $34.89 and a 12 month high of $55.24. The company has a market capitalization of $52.82 billion, a P/E ratio of 28.49, a PEG ratio of 0.87 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on FCX shares. Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their target price for the company from $48.00 to $40.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Scotiabank reduced their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.46.

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.