Nwam LLC Reduces Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Nwam LLC reduced its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 13.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 101,975 shares of the natural resource company’s stock after selling 15,425 shares during the period. Nwam LLC’s holdings in Freeport-McMoRan were worth $3,883,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in FCX. Asset Planning Inc bought a new position in Freeport-McMoRan in the 4th quarter valued at about $25,000. Laurel Wealth Advisors LLC increased 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 valued at $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC acquired a new stake in Freeport-McMoRan during the fourth quarter valued at $28,000. Continuum Advisory LLC grew its position in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Freeport-McMoRan during the 3rd quarter valued at about $46,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $38.03 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $38.37 and a two-hundred day simple moving average of $42.66. The firm has a market capitalization of $54.64 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. Freeport-McMoRan Inc. has a 12 month low of $34.89 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results 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 return on equity of 7.50% and a net margin of 7.42%. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. BMO Capital Markets lowered their price target on shares of 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, Scotiabank reduced their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.46.

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.