Foundations Investment Advisors LLC Boosts Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Foundations Investment Advisors LLC grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,735 shares of the natural resource company’s stock after purchasing an additional 34,228 shares during the period. Foundations Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $7,682,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FCX. Matrix Trust Co acquired a new position in shares of Freeport-McMoRan during the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Freeport-McMoRan during the 2nd quarter valued at $27,000. Laurel Wealth Advisors LLC boosted its position 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 worth $28,000 after purchasing an additional 600 shares during the period. Godsey & Gibb Inc. boosted its position in Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 346 shares during the period. Finally, Continuum Advisory LLC lifted its holdings in Freeport-McMoRan by 46.8% in 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 in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 2.3 %

FCX opened at $36.93 on Monday. The company has a market cap of $53.07 billion, a P/E ratio of 26.95, a PEG ratio of 2.39 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. Freeport-McMoRan Inc. has a one year low of $36.26 and a one year high of $55.24. The business’s 50-day simple moving average is $40.81 and its 200-day simple moving average is $43.85.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results 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 7.81% and a return on equity of 7.40%. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FCX shares. Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their target price for the company from $48.00 to $40.00 in a research note on Friday. Scotiabank reduced 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 report on Friday. Raymond James increased their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.