Sanctuary Advisors LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 23.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,927 shares of the natural resource company's stock after acquiring an additional 38,287 shares during the period. Sanctuary Advisors LLC's holdings in Freeport-McMoRan were worth $7,435,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Planning Inc acquired a new stake in Freeport-McMoRan during the 4th quarter valued at approximately $25,000. Laurel Wealth Advisors LLC boosted its stake in shares of 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 buying an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth approximately $28,000. Financial Life Planners bought a new stake in shares of Freeport-McMoRan in the fourth quarter worth $36,000. Finally, Continuum Advisory LLC raised its holdings in Freeport-McMoRan by 46.8% in the third 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 in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.
FCX has been the subject of several research analyst reports. 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 research report on Tuesday, January 7th. Jefferies Financial Group cut Freeport-McMoRan from a "buy" rating to a "hold" rating and cut their price objective for the company from $48.00 to $40.00 in a research note on Friday, January 24th. BMO Capital Markets decreased their target price on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Raymond James raised their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $51.46.
Get Our Latest Research Report on Freeport-McMoRan
Freeport-McMoRan stock opened at $38.58 on Thursday. Freeport-McMoRan Inc. has a 52-week low of $34.89 and a 52-week high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $55.44 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 0.88 and a beta of 1.85. The firm has a 50-day moving average price of $38.68 and a two-hundred day moving average price of $42.76.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued 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%. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.
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.
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