Quent Capital LLC Decreases Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Quent Capital LLC reduced its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 10.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,488 shares of the natural resource company’s stock after selling 285 shares during the period. Quent Capital LLC’s holdings in Freeport-McMoRan were worth $95,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FCX. Trust Co. of Vermont boosted its stake in shares of Freeport-McMoRan by 5.2% in the third quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock valued at $228,000 after purchasing an additional 228 shares during the period. Fidelis Capital Partners LLC boosted its stake in shares of Freeport-McMoRan by 2.0% in the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock valued at $560,000 after purchasing an additional 231 shares during the period. Prospera Private Wealth LLC boosted its stake in shares of Freeport-McMoRan by 4.4% in the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after purchasing an additional 234 shares during the period. Continuum Advisory LLC boosted its stake in shares of Freeport-McMoRan by 46.8% in the third 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 during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Freeport-McMoRan by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company’s stock valued at $2,518,000 after purchasing an additional 244 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Up 1.0 %

Shares of NYSE:FCX opened at $37.97 on Thursday. The stock has a market capitalization of $54.56 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 0.81 and a beta of 1.85. Freeport-McMoRan Inc. has a 1-year low of $34.89 and a 1-year high of $55.24. The company’s fifty day moving average is $39.03 and its two-hundred day moving average is $42.92. 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 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 return on equity of 7.50% and a net margin of 7.42%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.71 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FCX. Scotiabank decreased their target price on shares of 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. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their price target for the company from $48.00 to $40.00 in a report on Friday, January 24th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Nine investment 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, the company presently has an average rating of “Moderate Buy” and an average price target 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.