Aire Advisors LLC Has $204,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

Aire Advisors LLC decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 31.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,363 shares of the natural resource company’s stock after selling 2,449 shares during the period. Aire Advisors LLC’s holdings in Freeport-McMoRan were worth $204,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC lifted its holdings in Freeport-McMoRan by 9.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock worth $8,219,000 after buying an additional 14,501 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Freeport-McMoRan in the 3rd quarter valued at about $754,000. Madison Investment Advisors LLC purchased a new position in shares of Freeport-McMoRan in the 4th quarter worth about $3,388,000. Principal Financial Group Inc. increased its position in Freeport-McMoRan by 4.1% in the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock worth $84,085,000 after buying an additional 66,699 shares during the last quarter. Finally, Czech National Bank boosted its holdings in Freeport-McMoRan by 6.4% in the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock worth $11,864,000 after buying an additional 18,852 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FCX has been the topic of several research reports. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Finally, BMO Capital Markets decreased their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Stock Up 3.5 %

FCX stock opened at $41.66 on Tuesday. The company has a market cap of $59.87 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 0.87 and a beta of 1.87. The firm has a 50-day moving average of $38.08 and a two-hundred day moving average of $41.97. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. 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 (NYSE:FCX) last issued its 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%. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

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.