Net Worth Advisory Group Sells 3,742 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Net Worth Advisory Group lessened its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 19.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,517 shares of the natural resource company’s stock after selling 3,742 shares during the period. Net Worth Advisory Group’s holdings in Freeport-McMoRan were worth $591,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Asset Planning Inc acquired a new position in Freeport-McMoRan during the fourth quarter worth approximately $25,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan during the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC increased its position in Freeport-McMoRan by 487.8% during the fourth 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 during the last quarter. Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the fourth quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 6.7 %

Shares of NYSE:FCX opened at $34.48 on Tuesday. The company has a market capitalization of $49.54 billion, a P/E ratio of 26.73, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The business’s 50 day simple moving average is $37.98 and its 200 day simple moving average is $42.28.

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%. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Ratings Changes

FCX has been the topic of a number of recent analyst reports. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Scotiabank decreased their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

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.