Oppenheimer & Co. Inc. Has $4.85 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Oppenheimer & Co. Inc. lessened its position in Freeport-McMoRan Inc. (NYSE:FCX) by 20.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,403 shares of the natural resource company’s stock after selling 33,369 shares during the period. Oppenheimer & Co. Inc.’s holdings in Freeport-McMoRan were worth $4,852,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FCX. Catalyst Financial Partners LLC boosted its stake in shares of Freeport-McMoRan by 5.4% in the 3rd quarter. Catalyst Financial Partners LLC now owns 7,085 shares of the natural resource company’s stock valued at $354,000 after purchasing an additional 364 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at $201,000. Hartford Financial Management Inc. boosted its stake in shares of Freeport-McMoRan by 9.6% in the 3rd quarter. Hartford Financial Management Inc. now owns 16,878 shares of the natural resource company’s stock valued at $843,000 after purchasing an additional 1,482 shares in the last quarter. Americana Partners LLC boosted its stake in shares of Freeport-McMoRan by 22.9% in the 3rd quarter. Americana Partners LLC now owns 8,273 shares of the natural resource company’s stock valued at $413,000 after purchasing an additional 1,539 shares in the last quarter. Finally, Capital Advisors Inc. OK boosted its stake in shares of Freeport-McMoRan by 0.4% in the 3rd quarter. Capital Advisors Inc. OK now owns 785,754 shares of the natural resource company’s stock valued at $39,225,000 after purchasing an additional 3,433 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX opened at $36.92 on Friday. The stock has a market capitalization of $53.05 billion, a P/E ratio of 28.62, a P/E/G ratio of 0.87 and a beta of 1.85. Freeport-McMoRan Inc. has a 1-year low of $34.89 and a 1-year 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. The business has a 50-day moving average price of $38.31 and a two-hundred day moving average price of $42.59.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of research analyst reports. Scotiabank cut their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. BMO Capital Markets cut their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.00 to $48.00 in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

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.