Soltis Investment Advisors LLC Purchases 346 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Soltis Investment Advisors LLC grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 3.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 10,090 shares of the natural resource company’s stock after buying an additional 346 shares during the period. Soltis Investment Advisors LLC’s holdings in Freeport-McMoRan were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Quilter Plc raised its stake in shares of Freeport-McMoRan by 7.3% in the fourth quarter. Quilter Plc now owns 18,919 shares of the natural resource company’s stock valued at $720,000 after purchasing an additional 1,294 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new stake in Freeport-McMoRan in the 4th quarter valued at $39,000. Savant Capital LLC raised its stake in shares of Freeport-McMoRan by 18.7% in the 4th quarter. Savant Capital LLC now owns 32,588 shares of the natural resource company’s stock valued at $1,241,000 after buying an additional 5,143 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Freeport-McMoRan by 5.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 61,740 shares of the natural resource company’s stock valued at $2,351,000 after buying an additional 3,167 shares in the last quarter. Finally, Stephens Inc. AR lifted its holdings in shares of Freeport-McMoRan by 4.8% during the 4th quarter. Stephens Inc. AR now owns 54,429 shares of the natural resource company’s stock worth $2,073,000 after acquiring an additional 2,493 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on FCX shares. Raymond James upped their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and lowered their price objective for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Scotiabank cut their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Nine research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.46.

Freeport-McMoRan Trading Down 2.2 %

FCX opened at $37.62 on Wednesday. Freeport-McMoRan Inc. has a 1-year low of $34.89 and a 1-year high of $55.24. The stock has a market capitalization of $54.05 billion, a PE ratio of 29.16, a PEG ratio of 0.81 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. The firm has a 50-day moving average price of $39.13 and a two-hundred day moving average price of $42.95.

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, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current fiscal year.

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.