Quilter Plc Has $720,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Quilter Plc grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,919 shares of the natural resource company’s stock after purchasing an additional 1,294 shares during the period. Quilter Plc’s holdings in Freeport-McMoRan were worth $720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Laurel Wealth Advisors LLC grew its stake in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares in the last quarter. Godsey & Gibb Inc. grew its stake in shares of Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after buying an additional 346 shares in the last quarter. Financial Life Planners bought a new position in shares of Freeport-McMoRan in the fourth quarter valued at $36,000. Continuum Advisory LLC grew its stake in shares of Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Freeport-McMoRan in the fourth quarter valued at $39,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 3.0 %

FCX stock opened at $38.27 on Monday. The company has a market cap of $54.98 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 0.81 and a beta of 1.85. The business has a 50-day simple moving average of $39.36 and a 200 day simple moving average of $43.05. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 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 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FCX. BMO Capital Markets decreased their target price 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. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. Finally, Raymond James lifted their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus target price of $51.46.

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.