Pure Financial Advisors LLC Has $247,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Pure Financial Advisors LLC lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 16.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,485 shares of the natural resource company’s stock after acquiring an additional 905 shares during the quarter. Pure Financial Advisors LLC’s holdings in Freeport-McMoRan were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mountaineer Partners Management LLC boosted its position in shares of Freeport-McMoRan by 4,767.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after purchasing an additional 11,687,982 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Freeport-McMoRan by 142.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company’s stock valued at $162,964,000 after buying an additional 2,515,103 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Freeport-McMoRan by 9.5% during the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after buying an additional 2,366,187 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Freeport-McMoRan by 423.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company’s stock worth $139,183,000 after buying an additional 2,255,529 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Freeport-McMoRan by 2.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock valued at $2,965,717,000 after acquiring an additional 1,392,494 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

FCX opened at $39.07 on Thursday. 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 company has a market capitalization of $56.14 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 2.30 and a beta of 1.87. The firm’s fifty day moving average price is $41.01 and its two-hundred day moving average price is $44.08.

Freeport-McMoRan (NYSE:FCX) last released its quarterly 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 net margin of 7.81% and a return on equity of 7.40%. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the firm earned $0.39 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. As a group, analysts anticipate that Freeport-McMoRan Inc. will post 1.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on FCX. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank reduced their target price on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.42.

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.