Wolverine Asset Management LLC Has $457,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

Wolverine Asset Management LLC cut its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 44.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,000 shares of the natural resource company’s stock after selling 9,500 shares during the quarter. Wolverine Asset Management LLC’s holdings in Freeport-McMoRan were worth $457,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC boosted its stake in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC bought a new position in Freeport-McMoRan during the 4th quarter worth about $28,000. Continuum Advisory LLC increased its holdings in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at about $46,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 5.1 %

Freeport-McMoRan stock opened at $36.97 on Monday. The firm has a market cap of $53.13 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.87 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a 50 day moving average price of $38.53 and a two-hundred day moving average price of $42.75. Freeport-McMoRan Inc. has a 52-week low of $34.89 and a 52-week high of $55.24.

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 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 analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FCX shares. Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, BMO Capital Markets lowered their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $51.46.

About Freeport-McMoRan

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.