Intellectus Partners LLC Has $2.71 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Intellectus Partners LLC decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,264 shares of the natural resource company’s stock after selling 494 shares during the quarter. Intellectus Partners LLC’s holdings in Freeport-McMoRan were worth $2,714,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FCX. Sanctuary Advisors LLC boosted its stake in shares of Freeport-McMoRan by 9.7% during the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after purchasing an additional 14,501 shares in the last quarter. Easterly Investment Partners LLC increased its position in shares of Freeport-McMoRan by 137.5% during the third quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock worth $7,375,000 after buying an additional 85,542 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Freeport-McMoRan during the third quarter worth $754,000. Summit Global Investments grew its position in shares of Freeport-McMoRan by 1,559.3% during the 3rd quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock worth $3,819,000 after buying an additional 71,883 shares during the period. Finally, AIA Group Ltd increased its stake in Freeport-McMoRan by 16.2% in the third quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock valued at $4,604,000 after purchasing an additional 12,887 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FCX shares. JPMorgan Chase & Co. cut their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Thursday. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

Freeport-McMoRan Price Performance

FCX stock opened at $36.97 on Friday. The firm has a 50 day moving average of $38.10 and a 200-day moving average of $42.42. The firm has a market capitalization of $53.13 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 12 month low of $34.26 and a 12 month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last posted its 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 return on equity of 7.50% and a net margin of 7.42%. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

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.