Roxbury Financial LLC Purchases New Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Roxbury Financial LLC purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 723 shares of the natural resource company’s stock, valued at approximately $28,000.

Other institutional investors have also made changes to their positions in the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC boosted its stake in shares of Freeport-McMoRan by 487.8% in 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 during the period. Godsey & Gibb Inc. boosted its stake in shares of Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after buying an additional 346 shares during the period. Financial Life Planners bought a new stake in Freeport-McMoRan during the fourth quarter worth $36,000. Finally, Continuum Advisory LLC lifted its stake in Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $39.46 on Friday. The company has a market capitalization of $56.69 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 0.81 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 stock has a fifty day simple moving average of $38.93 and a 200 day simple moving average of $42.86. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

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%. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Analyst Ratings Changes

FCX has been the subject of several recent analyst reports. Scotiabank cut their target price on 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. JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group cut 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 note on Friday, January 24th. Raymond James upped their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Nine equities research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.46.

About Freeport-McMoRan

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.