Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Diversify Wealth Management LLC

Diversify Wealth Management LLC increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,434 shares of the natural resource company’s stock after buying an additional 1,957 shares during the quarter. Diversify Wealth Management LLC’s holdings in Freeport-McMoRan were worth $641,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Deane Retirement Strategies Inc. lifted its holdings in shares of Freeport-McMoRan by 0.4% in the third quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company’s stock valued at $2,357,000 after buying an additional 201 shares during the period. Koshinski Asset Management Inc. lifted its holdings in shares of Freeport-McMoRan by 1.0% during the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock valued at $1,037,000 after purchasing an additional 214 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of Freeport-McMoRan by 5.2% during the third 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 during the last quarter. Fidelis Capital Partners LLC lifted its holdings in shares of Freeport-McMoRan by 2.0% during the third 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 during the last quarter. Finally, Prospera Private Wealth LLC lifted its holdings in shares of Freeport-McMoRan by 4.4% during the third 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 during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 0.2 %

FCX opened at $40.32 on Wednesday. Freeport-McMoRan Inc. has a fifty-two week low of $36.26 and a fifty-two week high of $55.24. The business has a 50-day moving average of $41.09 and a 200-day moving average of $44.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The company has a market capitalization of $57.93 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 2.21 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period last year, the business earned $0.39 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FCX shares. Raymond James upped their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group reduced their target price on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Sanford C. Bernstein downgraded 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 note on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.42.

Freeport-McMoRan Company 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.