Global Retirement Partners LLC Sells 30,807 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Global Retirement Partners LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 26.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,821 shares of the natural resource company’s stock after selling 30,807 shares during the quarter. Global Retirement Partners LLC’s holdings in Freeport-McMoRan were worth $3,268,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Bank of Jackson Hole Trust bought a new position in Freeport-McMoRan in the 4th quarter valued at about $426,000. New York State Common Retirement Fund increased its holdings in Freeport-McMoRan by 0.6% in the 4th quarter. New York State Common Retirement Fund now owns 2,097,922 shares of the natural resource company’s stock valued at $79,889,000 after buying an additional 11,800 shares during the period. Atria Wealth Solutions Inc. increased its holdings in Freeport-McMoRan by 1.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 69,258 shares of the natural resource company’s stock valued at $2,637,000 after buying an additional 1,135 shares during the period. Mraz Amerine & Associates Inc. increased its holdings in Freeport-McMoRan by 4.6% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 59,676 shares of the natural resource company’s stock valued at $2,272,000 after buying an additional 2,607 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in shares of Freeport-McMoRan by 68.8% during the 4th quarter. Venturi Wealth Management LLC now owns 29,974 shares of the natural resource company’s stock valued at $1,141,000 after purchasing an additional 12,213 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Down 1.8 %

Shares of NYSE FCX opened at $38.58 on Thursday. The company has a market capitalization of $55.44 billion, a P/E ratio of 29.91, a price-to-earnings-growth ratio of 0.88 and a beta of 1.85. Freeport-McMoRan Inc. has a 52-week low of $34.89 and a 52-week high of $55.24. 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 company’s 50 day moving average price is $38.68 and its 200-day moving average price is $42.76.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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%. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FCX. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Scotiabank decreased their price target 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. BMO Capital Markets decreased their price target 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. decreased their price target 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. Finally, Raymond James lifted their price target 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. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.