Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 15.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,819 shares of the natural resource company’s stock after acquiring an additional 2,849 shares during the period. Valeo Financial Advisors LLC’s holdings in Freeport-McMoRan were worth $831,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Trust Co. of Vermont grew its holdings in Freeport-McMoRan by 5.2% during the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock valued at $228,000 after purchasing an additional 228 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in Freeport-McMoRan by 2.0% during the 3rd quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock valued at $560,000 after purchasing an additional 231 shares in the last quarter. Prospera Private Wealth LLC grew its holdings in Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after purchasing an additional 234 shares in the last quarter. Continuum Advisory LLC grew its holdings 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 in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Freeport-McMoRan by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock valued at $2,518,000 after purchasing an additional 244 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on FCX shares. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James increased their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, BMO Capital Markets reduced their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Trading Down 1.9 %

Freeport-McMoRan stock opened at $39.46 on Monday. The firm’s 50-day moving average is $38.93 and its 200-day moving average is $42.84. 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 Inc. has a 1 year low of $34.89 and a 1 year high of $55.24. The company has a market cap of $56.69 billion, a P/E ratio of 30.59, a PEG ratio of 0.81 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current year.

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.