Capital Wealth Planning LLC Acquires 463,430 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Capital Wealth Planning LLC grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,511,176 shares of the natural resource company’s stock after buying an additional 463,430 shares during the period. Freeport-McMoRan makes up 2.6% of Capital Wealth Planning LLC’s investment portfolio, making the stock its 19th largest holding. Capital Wealth Planning LLC owned about 0.52% of Freeport-McMoRan worth $286,026,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Metis Global Partners LLC boosted its holdings in shares of Freeport-McMoRan by 10.1% during the 4th quarter. Metis Global Partners LLC now owns 135,129 shares of the natural resource company’s stock worth $5,146,000 after buying an additional 12,448 shares in the last quarter. West Michigan Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 13.9% during the 4th quarter. West Michigan Advisors LLC now owns 8,746 shares of the natural resource company’s stock worth $333,000 after buying an additional 1,064 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Freeport-McMoRan by 10.8% during the 4th quarter. US Bancorp DE now owns 192,680 shares of the natural resource company’s stock worth $7,337,000 after buying an additional 18,746 shares in the last quarter. Sage Investment Counsel LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $329,000. Finally, SVB Wealth LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $333,000. 80.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FCX has been the subject of a number of recent research reports. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. BMO Capital Markets reduced their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Scotiabank lowered their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. decreased 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. Finally, Sanford C. Bernstein downgraded 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 report on Tuesday, January 7th. Eight 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Down 1.3 %

Shares of NYSE:FCX opened at $36.92 on Friday. The company has a market capitalization of $53.05 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The business has a fifty day moving average price of $38.31 and a two-hundred day moving average price of $42.59. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 year high of $55.24.

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