Murphy Pohlad Asset Management LLC Trims Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Murphy Pohlad Asset Management LLC lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 41.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,876 shares of the natural resource company’s stock after selling 9,084 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Freeport-McMoRan were worth $490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in Freeport-McMoRan by 28.1% in the second quarter. AQR Capital Management LLC now owns 285,529 shares of the natural resource company’s stock worth $13,877,000 after purchasing an additional 62,663 shares during the period. Creative Planning grew its stake in shares of Freeport-McMoRan by 28.7% in the 2nd quarter. Creative Planning now owns 202,693 shares of the natural resource company’s stock worth $9,851,000 after buying an additional 45,212 shares during the last quarter. Sunbelt Securities Inc. increased its position in Freeport-McMoRan by 2.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 11,441 shares of the natural resource company’s stock valued at $556,000 after buying an additional 302 shares in the last quarter. EP Wealth Advisors LLC raised its stake in Freeport-McMoRan by 10.6% during the second quarter. EP Wealth Advisors LLC now owns 13,348 shares of the natural resource company’s stock valued at $649,000 after buying an additional 1,282 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in Freeport-McMoRan by 22.8% in the second quarter. Truist Financial Corp now owns 135,608 shares of the natural resource company’s stock worth $6,591,000 after acquiring an additional 25,214 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 1.2 %

Shares of Freeport-McMoRan stock opened at $36.28 on Thursday. The company has a fifty day moving average of $40.36 and a 200 day moving average of $43.58. Freeport-McMoRan Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $55.24. The company has a market capitalization of $52.14 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.39 and a beta of 1.87. 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 (NYSE:FCX) last released its quarterly earnings data 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 net margin of 7.81% and a return on equity of 7.40%. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FCX shares. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Raymond James raised their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $40.00 in a research report on Friday, January 24th. Finally, BMO Capital Markets reduced their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.