Mcdonald Partners LLC Decreases Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Mcdonald Partners LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,835 shares of the natural resource company’s stock after selling 2,210 shares during the period. Mcdonald Partners LLC’s holdings in Freeport-McMoRan were worth $755,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCX. Creative Planning boosted its position in Freeport-McMoRan by 10.6% in the 3rd quarter. Creative Planning now owns 224,277 shares of the natural resource company’s stock valued at $11,196,000 after buying an additional 21,584 shares during the last quarter. Good Life Advisors LLC acquired a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at about $254,000. V Square Quantitative Management LLC raised its stake in shares of Freeport-McMoRan by 23.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,623 shares of the natural resource company’s stock valued at $281,000 after purchasing an additional 1,060 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Freeport-McMoRan by 185.2% in the 3rd quarter. Blue Trust Inc. now owns 9,513 shares of the natural resource company’s stock valued at $462,000 after purchasing an additional 6,177 shares in the last quarter. Finally, New Century Financial Group LLC raised its stake in shares of Freeport-McMoRan by 7.3% in the 3rd quarter. New Century Financial Group LLC now owns 10,786 shares of the natural resource company’s stock valued at $538,000 after purchasing an additional 730 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Down 1.9 %

Shares of NYSE:FCX opened at $39.46 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The stock has a market capitalization of $56.69 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a 1-year low of $34.89 and a 1-year high of $55.24. The company has a 50 day moving average price of $38.84 and a 200 day moving average price of $42.81.

Freeport-McMoRan (NYSE:FCX) last issued 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 7.42% and a return on equity of 7.50%. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FCX has been the topic of a number of recent analyst reports. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Raymond James upped their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. Finally, Sanford C. Bernstein lowered 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. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.46.

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.