Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Stratos Investment Management LLC

Stratos Investment Management LLC cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 43.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,061 shares of the natural resource company’s stock after selling 14,792 shares during the quarter. Stratos Investment Management LLC’s holdings in Freeport-McMoRan were worth $726,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Matrix Trust Co purchased a new stake in shares of Freeport-McMoRan in the 3rd quarter worth about $25,000. Laurel Wealth Advisors LLC boosted its position 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 buying an additional 600 shares in the last quarter. Godsey & Gibb Inc. boosted its position in shares of Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after buying an additional 346 shares in the last quarter. Financial Life Planners purchased a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $36,000. Finally, Continuum Advisory LLC boosted its position in shares of Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 0.6 %

FCX opened at $36.69 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24. The firm has a 50 day moving average price of $39.61 and a 200 day moving average price of $43.17. The company has a market cap of $52.71 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 0.85 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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%. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FCX. BMO Capital Markets reduced their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. 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 report on Wednesday, October 23rd. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Scotiabank reduced their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $51.46.

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.