Strategic Blueprint LLC Sells 32,335 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Strategic Blueprint LLC trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 37.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 53,102 shares of the natural resource company’s stock after selling 32,335 shares during the quarter. Strategic Blueprint LLC’s holdings in Freeport-McMoRan were worth $2,022,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FCX. Foster Victor Wealth Advisors LLC boosted its position in Freeport-McMoRan by 17.9% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 297,725 shares of the natural resource company’s stock worth $11,975,000 after purchasing an additional 45,289 shares during the last quarter. R Squared Ltd purchased a new position in Freeport-McMoRan in the fourth quarter worth about $206,000. Twelve Points Wealth Management LLC lifted its position in shares of Freeport-McMoRan by 9.1% during the 4th quarter. Twelve Points Wealth Management LLC now owns 44,313 shares of the natural resource company’s stock valued at $1,687,000 after buying an additional 3,680 shares in the last quarter. Foster Group Inc. lifted its position in shares of Freeport-McMoRan by 1.2% during the 4th quarter. Foster Group Inc. now owns 32,529 shares of the natural resource company’s stock valued at $1,239,000 after buying an additional 379 shares in the last quarter. Finally, Signature Wealth Management Partners LLC lifted its position in shares of Freeport-McMoRan by 16.4% during the 4th quarter. Signature Wealth Management Partners LLC now owns 7,100 shares of the natural resource company’s stock valued at $270,000 after buying an additional 1,000 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FCX shares. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price target for the stock from $48.00 to $40.00 in a report on Friday, January 24th. Scotiabank lowered their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Raymond James boosted their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Eight investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $36.28 on Thursday. The company has a market cap of $52.14 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 2.39 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The stock’s 50 day simple moving average is $40.36 and its two-hundred day simple moving average is $43.58. Freeport-McMoRan Inc. has a 1 year low of $35.46 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last released its earnings results 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 7.81% and a return on equity of 7.40%. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

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.