Stephens Inc. AR Purchases 2,493 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Stephens Inc. AR grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 4.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 54,429 shares of the natural resource company’s stock after buying an additional 2,493 shares during the quarter. Stephens Inc. AR’s holdings in Freeport-McMoRan were worth $2,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FCX. Exchange Traded Concepts LLC grew its holdings in shares of Freeport-McMoRan by 22.1% during the third quarter. Exchange Traded Concepts LLC now owns 14,998 shares of the natural resource company’s stock worth $749,000 after purchasing an additional 2,716 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Freeport-McMoRan by 8.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,680 shares of the natural resource company’s stock worth $234,000 after buying an additional 380 shares in the last quarter. Procyon Advisors LLC grew its holdings in Freeport-McMoRan by 7.2% during the 3rd quarter. Procyon Advisors LLC now owns 31,490 shares of the natural resource company’s stock worth $1,573,000 after acquiring an additional 2,120 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in Freeport-McMoRan in the 3rd quarter valued at about $129,000. Finally, Creative Planning raised its stake in shares of Freeport-McMoRan by 10.6% in the third quarter. Creative Planning now owns 224,277 shares of the natural resource company’s stock worth $11,196,000 after acquiring an additional 21,584 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 2.2 %

FCX opened at $37.62 on Wednesday. The firm’s fifty day moving average is $39.13 and its two-hundred day moving average is $42.95. The firm has a market cap of $54.05 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a twelve month low of $34.89 and a twelve month high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on FCX shares. Raymond James increased their price target 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. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. BMO Capital Markets dropped their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Scotiabank dropped 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 equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average price target 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.