Retirement Planning Co of New England Inc. Lowers Position in Freeport-McMoRan Inc. (NYSE:FCX)

Retirement Planning Co of New England Inc. trimmed its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,948 shares of the natural resource company’s stock after selling 1,249 shares during the quarter. Retirement Planning Co of New England Inc.’s holdings in Freeport-McMoRan were worth $1,102,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Prospera Private Wealth LLC grew its holdings in Freeport-McMoRan by 4.4% in the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after purchasing an additional 234 shares during the period. Continuum Advisory LLC grew its stake in Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares during the period. PFG Investments LLC grew its stake in Freeport-McMoRan by 1.3% during the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after buying an additional 283 shares during the period. Larson Financial Group LLC grew its stake in Freeport-McMoRan by 14.6% during the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after buying an additional 287 shares during the period. Finally, Meeder Advisory Services Inc. grew its stake in Freeport-McMoRan by 0.9% during the third quarter. Meeder Advisory Services Inc. now owns 32,339 shares of the natural resource company’s stock worth $1,614,000 after buying an additional 298 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FCX has been the subject of several research reports. BMO Capital Markets decreased their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Freeport-McMoRan Trading Up 1.7 %

FCX opened at $39.50 on Tuesday. The stock has a market capitalization of $56.76 billion, a PE ratio of 30.62, a P/E/G ratio of 0.87 and a beta of 1.87. The firm’s fifty day moving average price is $37.95 and its 200 day moving average price is $42.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results 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%. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Company 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.