MassMutual Private Wealth & Trust FSB lessened its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 26.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 32,313 shares of the natural resource company's stock after selling 11,441 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Freeport-McMoRan were worth $1,230,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of FCX. Matrix Trust Co bought a new stake in Freeport-McMoRan during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Freeport-McMoRan during the second quarter worth about $27,000. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after acquiring an additional 600 shares during the last quarter. Godsey & Gibb Inc. lifted its position in Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company's stock valued at $29,000 after acquiring an additional 346 shares in the last quarter. Finally, Continuum Advisory LLC boosted its stake in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock valued at $37,000 after purchasing an additional 236 shares during the last quarter. Institutional investors own 80.77% of the company's stock.
FCX has been the subject of a number of analyst reports. Raymond James increased their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Jefferies Financial Group lowered their target price on Freeport-McMoRan from $60.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $52.00 to $48.00 and set a "sector perform" rating for the company in a report on Monday, January 6th. Finally, StockNews.com cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Thursday, September 26th. Seven equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.42.
View Our Latest Stock Report on FCX
NYSE:FCX opened at $40.32 on Wednesday. The company has a market cap of $57.93 billion, a P/E ratio of 29.43, a P/E/G ratio of 2.21 and a beta of 1.87. Freeport-McMoRan Inc. has a 1 year low of $36.26 and a 1 year high of $55.24. 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 stock's fifty day moving average price is $41.09 and its two-hundred day moving average price is $44.12.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, beating 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 business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. The company's quarterly revenue was up 16.6% compared to the same quarter last year. As a group, analysts expect that Freeport-McMoRan Inc. will post 1.47 EPS for the current year.
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.
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