Sensible Money LLC Trims Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Sensible Money LLC cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,931 shares of the natural resource company’s stock after selling 1,996 shares during the period. Freeport-McMoRan accounts for about 0.8% of Sensible Money LLC’s holdings, making the stock its 12th biggest position. Sensible Money LLC’s holdings in Freeport-McMoRan were worth $1,825,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mountaineer Partners Management LLC increased its holdings in shares of Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after purchasing an additional 11,687,982 shares during the period. Assenagon Asset Management S.A. grew its position in Freeport-McMoRan by 142.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company’s stock valued at $162,964,000 after buying an additional 2,515,103 shares during the last quarter. Franklin Resources Inc. increased its stake in Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after buying an additional 2,366,187 shares during the period. Los Angeles Capital Management LLC raised its position in Freeport-McMoRan by 423.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company’s stock worth $139,183,000 after buying an additional 2,255,529 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Freeport-McMoRan by 2.4% in the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after acquiring an additional 1,392,494 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Up 3.0 %

Freeport-McMoRan stock opened at $38.27 on Monday. The stock has a market cap of $54.98 billion, a PE ratio of 29.66, a P/E/G ratio of 0.81 and a beta of 1.85. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $39.36 and a 200 day moving average price of $43.05. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data 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%. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

FCX has been the subject of several analyst reports. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James lifted their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Scotiabank reduced their price objective 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. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.