Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 616,143 shares of the natural resource company’s stock after selling 123,405 shares during the period. Janney Montgomery Scott LLC’s holdings in Freeport-McMoRan were worth $23,463,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board lifted its holdings in Freeport-McMoRan by 74.3% in the second quarter. Public Sector Pension Investment Board now owns 55,421 shares of the natural resource company’s stock worth $2,693,000 after acquiring an additional 23,629 shares during the last quarter. Insigneo Advisory Services LLC lifted its holdings in shares of Freeport-McMoRan by 95.7% in the 2nd quarter. Insigneo Advisory Services LLC now owns 12,175 shares of the natural resource company’s stock worth $592,000 after purchasing an additional 5,954 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Freeport-McMoRan during the 2nd quarter valued at approximately $525,000. AXA S.A. grew its stake in Freeport-McMoRan by 101.5% during the 2nd quarter. AXA S.A. now owns 32,814 shares of the natural resource company’s stock worth $1,595,000 after buying an additional 16,531 shares during the last quarter. Finally, AQR Capital Management LLC increased its position 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 buying an additional 62,663 shares during the period. 80.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. 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. Raymond James upped their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped 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 note on Thursday, January 16th. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their target price for the company from $48.00 to $40.00 in a research report on Friday. Eight 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $37.78 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $40.81 and its 200 day moving average price is $43.95. Freeport-McMoRan Inc. has a 52-week low of $36.26 and a 52-week high of $55.24. The firm has a market cap of $54.29 billion, a P/E ratio of 27.58, a PEG ratio of 2.39 and a beta of 1.87.

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 the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

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.