Amalgamated Bank Has $10.48 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Amalgamated Bank cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 275,082 shares of the natural resource company's stock after selling 6,805 shares during the quarter. Amalgamated Bank's holdings in Freeport-McMoRan were worth $10,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FCX. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth $25,000. Laurel Wealth Advisors LLC grew 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 valued at $28,000 after acquiring an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new stake in Freeport-McMoRan in the 4th quarter valued at about $28,000. Financial Life Planners acquired a new stake in Freeport-McMoRan in the 4th quarter valued at about $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 last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FCX. Scotiabank lowered their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their price target for the stock from $40.00 to $48.00 in a research note on Thursday. Finally, Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.04.

Freeport-McMoRan Price Performance

NYSE:FCX traded down $0.51 during trading hours on Friday, reaching $36.92. The company had a trading volume of 14,776,973 shares, compared to its average volume of 14,538,130. The stock has a 50-day moving average of $38.31 and a two-hundred day moving average of $42.59. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24. The firm has a market capitalization of $53.05 billion, a PE ratio of 28.62, a PEG ratio of 0.87 and a beta of 1.85. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its earnings results 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%. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current 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.