Mather Group LLC. Increases Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Mather Group LLC. raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,779 shares of the natural resource company’s stock after buying an additional 1,427 shares during the period. Mather Group LLC.’s holdings in Freeport-McMoRan were worth $829,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FCX. Matrix Trust Co purchased a new position in shares of Freeport-McMoRan in the 3rd quarter valued at about $25,000. Laurel Wealth Advisors LLC increased its position in shares of 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 buying an additional 600 shares in the last quarter. Godsey & Gibb Inc. raised its stake in shares of Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after buying an additional 346 shares during the period. Financial Life Planners purchased a new position in shares of Freeport-McMoRan during the 4th quarter valued at approximately $36,000. Finally, Continuum Advisory LLC grew its stake in 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 acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $36.49 on Wednesday. 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 50-day moving average price of $39.75 and a 200 day moving average price of $43.21. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24. The stock has a market cap of $52.43 billion, a P/E ratio of 28.29, a PEG ratio of 0.85 and a beta of 1.85.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FCX shares. Raymond James upped their price objective 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. 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 report on Friday, January 24th. Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their target price for the company from $48.00 to $40.00 in a report on Friday, January 24th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Scotiabank reduced their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.46.

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.