Hodges Capital Management Inc. Sells 11,456 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Hodges Capital Management Inc. decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 608,072 shares of the natural resource company’s stock after selling 11,456 shares during the period. Freeport-McMoRan comprises 1.4% of Hodges Capital Management Inc.’s portfolio, making the stock its 18th biggest holding. Hodges Capital Management Inc.’s holdings in Freeport-McMoRan were worth $23,155,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FCX. Matrix Trust Co acquired a new position in shares of Freeport-McMoRan in the 3rd quarter worth approximately $25,000. Laurel Wealth Advisors LLC grew its position in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares during the period. Godsey & Gibb Inc. raised its stake in Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 346 shares in the last quarter. Financial Life Planners bought a new position in shares of Freeport-McMoRan during the fourth quarter valued at $36,000. Finally, Continuum Advisory LLC boosted its stake in shares of Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $35.81 on Monday. The company has a market cap of $51.46 billion, a PE ratio of 27.76, a PEG ratio of 0.85 and a beta of 1.85. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 1 year low of $35.46 and a 1 year high of $55.24. The company’s 50-day moving average is $40.06 and its two-hundred day moving average is $43.35.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data 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 7.42% and a return on equity of 7.50%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday. BMO Capital Markets cut their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, Scotiabank reduced their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus 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.