Baxter Bros Inc. Sells 3,554 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Baxter Bros Inc. lessened its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,802 shares of the natural resource company’s stock after selling 3,554 shares during the period. Baxter Bros Inc.’s holdings in Freeport-McMoRan were worth $1,363,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Asset Planning Inc bought a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $25,000. Vision Financial Markets LLC bought a new position in Freeport-McMoRan during the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC lifted 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 acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $29,000. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on FCX. BMO Capital Markets reduced their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Scotiabank dropped their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price target for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Finally, Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Stock Up 3.5 %

FCX stock opened at $41.66 on Tuesday. The stock has a 50-day simple moving average of $38.08 and a two-hundred day simple moving average of $41.97. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. The firm has a market capitalization of $59.87 billion, a PE ratio of 32.30, a PEG ratio of 0.87 and a beta of 1.87. 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 issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS 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 predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

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.