Capital Wealth Planning LLC Acquires 463,430 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Capital Wealth Planning LLC boosted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,511,176 shares of the natural resource company's stock after buying an additional 463,430 shares during the quarter. Freeport-McMoRan accounts for about 2.6% of Capital Wealth Planning LLC's investment portfolio, making the stock its 19th largest position. Capital Wealth Planning LLC owned approximately 0.52% of Freeport-McMoRan worth $286,026,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth about $25,000. Laurel Wealth Advisors LLC grew its position in Freeport-McMoRan by 487.8% during 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 in the last quarter. Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the fourth quarter valued at $28,000. Continuum Advisory LLC lifted its position 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 worth $37,000 after purchasing an additional 236 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Freeport-McMoRan during the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded down $0.72 during midday trading on Monday, reaching $36.19. 7,441,129 shares of the company traded hands, compared to its average volume of 14,347,771. Freeport-McMoRan Inc. has a 12 month low of $34.89 and a 12 month high of $55.24. The firm has a market cap of $52.01 billion, a PE ratio of 27.98, 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 stock's 50-day simple moving average is $38.31 and its 200-day simple moving average is $42.60.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on FCX. Scotiabank reduced their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. cut their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a report 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 objective for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their price objective for the company from $40.00 to $48.00 in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.04.

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.