Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 5.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 322,100 shares of the natural resource company’s stock after selling 17,300 shares during the quarter. Adams Diversified Equity Fund Inc.’s holdings in Freeport-McMoRan were worth $12,266,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Asset Planning Inc acquired a new position in Freeport-McMoRan in the 4th quarter worth about $25,000. Vision Financial Markets LLC purchased a new stake in Freeport-McMoRan during the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC increased 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 worth $28,000 after buying an additional 600 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan during the 4th quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Freeport-McMoRan during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.7 %

FCX opened at $40.72 on Friday. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24. The stock has a market capitalization of $58.51 billion, a PE ratio of 31.56, a P/E/G ratio of 0.87 and a beta of 1.87. The business’s 50 day moving average price is $38.00 and its 200 day moving average price is $41.99. 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 (NYSE:FCX) last released its quarterly earnings data 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 net margin of 7.42% and a return on equity of 7.50%. As a group, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on FCX. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upgraded Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $48.00 to $52.00 in a research note on Thursday. BMO Capital Markets dropped their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average price target of $52.04.

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.