West Michigan Advisors LLC Has $333,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

West Michigan Advisors LLC grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,746 shares of the natural resource company’s stock after acquiring an additional 1,064 shares during the period. West Michigan Advisors LLC’s holdings in Freeport-McMoRan were worth $333,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in FCX. Sanctuary Advisors LLC grew its stake in shares of Freeport-McMoRan by 9.7% in the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock valued at $8,219,000 after acquiring an additional 14,501 shares in the last quarter. Easterly Investment Partners LLC boosted its holdings in Freeport-McMoRan by 137.5% in the 3rd quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock valued at $7,375,000 after purchasing an additional 85,542 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Freeport-McMoRan during the 3rd quarter worth approximately $754,000. Summit Global Investments increased its holdings in shares of Freeport-McMoRan by 1,559.3% during the third quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock worth $3,819,000 after purchasing an additional 71,883 shares during the period. Finally, AIA Group Ltd raised its position in shares of Freeport-McMoRan by 16.2% in the third quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock valued at $4,604,000 after buying an additional 12,887 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $36.92 on Friday. The company’s 50 day moving average price is $38.31 and its two-hundred day moving average price is $42.59. The firm 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 fifty-two week low of $34.89 and a fifty-two week 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.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their price target for the stock from $40.00 to $48.00 in a research report on Thursday. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Scotiabank cut 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 report on Friday, January 24th. BMO Capital Markets decreased their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.04.

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.