Schechter Investment Advisors LLC Has $541,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Schechter Investment Advisors LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,206 shares of the natural resource company’s stock after buying an additional 717 shares during the period. Schechter Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $541,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Quintet Private Bank Europe S.A. grew its holdings in Freeport-McMoRan by 10.3% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 7,227 shares of the natural resource company’s stock worth $275,000 after purchasing an additional 677 shares during the period. LGT Fund Management Co Ltd. boosted its position in shares of Freeport-McMoRan by 7.0% during the 4th quarter. LGT Fund Management Co Ltd. now owns 73,862 shares of the natural resource company’s stock worth $2,813,000 after purchasing an additional 4,800 shares in the last quarter. LGT Group Foundation grew its stake in shares of Freeport-McMoRan by 11.7% in the 4th quarter. LGT Group Foundation now owns 211,355 shares of the natural resource company’s stock valued at $8,048,000 after buying an additional 22,169 shares during the period. DJE Kapital AG bought a new stake in Freeport-McMoRan in the 4th quarter valued at about $3,574,000. Finally, SBI Securities Co. Ltd. acquired a new position in Freeport-McMoRan during the 4th quarter worth approximately $194,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on FCX shares. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets lowered their price objective 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. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $34.93 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12-month low of $34.26 and a 12-month high of $55.24. The company has a market cap of $50.20 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The stock has a 50-day moving average price of $38.23 and a 200-day moving average price of $42.54.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data 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%. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

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.