Boston Financial Mangement LLC Purchases 981 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Boston Financial Mangement LLC grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 22.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,272 shares of the natural resource company’s stock after purchasing an additional 981 shares during the quarter. Boston Financial Mangement LLC’s holdings in Freeport-McMoRan were worth $201,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC raised 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 worth $560,000 after purchasing an additional 231 shares during the last quarter. Prospera Private Wealth LLC grew its position in shares of 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 worth $277,000 after buying an additional 234 shares during the period. Continuum Advisory LLC grew its position in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of 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 worth $2,518,000 after buying an additional 244 shares during the period. Finally, Intellectus Partners LLC grew its position in shares of Freeport-McMoRan by 0.4% during the 3rd quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company’s stock worth $3,582,000 after buying an additional 256 shares during the period. Institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

FCX has been the subject of several recent analyst reports. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. 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 report on Friday, January 24th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $46.00 in a research report 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 for the company in a research report on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Trading Down 5.1 %

NYSE FCX opened at $36.97 on Friday. The stock has a market capitalization of $53.12 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.86 and a beta of 1.85. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The business’s fifty day moving average is $38.53 and its 200-day moving average is $42.71.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current 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.