Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. trimmed its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,948 shares of the natural resource company’s stock after selling 1,249 shares during the period. Retirement Planning Co of New England Inc.’s holdings in Freeport-McMoRan were worth $1,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Prospera Private Wealth LLC raised its holdings in shares of Freeport-McMoRan by 4.4% during the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after purchasing an additional 234 shares during the period. Continuum Advisory LLC raised its holdings in shares of 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 purchasing an additional 236 shares during the period. PFG Investments LLC raised its holdings in shares of Freeport-McMoRan by 1.3% during the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after purchasing an additional 283 shares during the period. Larson Financial Group LLC grew its position in shares of Freeport-McMoRan by 14.6% during the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after acquiring an additional 287 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its position in shares of Freeport-McMoRan by 0.9% during the third quarter. Meeder Advisory Services Inc. now owns 32,339 shares of the natural resource company’s stock worth $1,614,000 after acquiring an additional 298 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $39.50 on Tuesday. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $56.76 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 0.87 and a beta of 1.87. The firm has a 50-day moving average of $37.95 and a two-hundred day moving average of $42.04.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. As a group, analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on FCX. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BMO Capital Markets lowered their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Scotiabank lowered their price target 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. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

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.