Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 7.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 135,853 shares of the natural resource company’s stock after acquiring an additional 9,824 shares during the quarter. Freeport-McMoRan comprises about 0.6% of Inspire Investing LLC’s portfolio, making the stock its 29th largest position. Inspire Investing LLC’s holdings in Freeport-McMoRan were worth $5,173,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Matrix Trust Co purchased a new stake in shares of Freeport-McMoRan during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Freeport-McMoRan in the 2nd quarter worth $27,000. Laurel Wealth Advisors LLC boosted its holdings in 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 acquiring an additional 600 shares during the last quarter. Godsey & Gibb Inc. grew its position in Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 346 shares during the period. Finally, Continuum Advisory LLC increased 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 acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Raymond James lifted their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Scotiabank cut their target price on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, January 6th. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Seven 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.42.

Freeport-McMoRan Stock Down 3.1 %

Shares of NYSE FCX opened at $39.07 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. Freeport-McMoRan Inc. has a 1 year low of $36.26 and a 1 year high of $55.24. The stock’s 50-day simple moving average is $41.01 and its 200-day simple moving average is $44.08. The firm has a market cap of $56.14 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.44 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. Freeport-McMoRan’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.43 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.