Freeport-McMoRan Inc. (NYSE:FCX) Stock Position Cut by Flputnam Investment Management Co.

Flputnam Investment Management Co. decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 121,460 shares of the natural resource company's stock after selling 7,666 shares during the quarter. Flputnam Investment Management Co.'s holdings in Freeport-McMoRan were worth $4,625,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Laurel Wealth Advisors LLC increased its stake in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after buying an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $28,000. Financial Life Planners bought a new position in Freeport-McMoRan during the 4th quarter valued at $36,000. Finally, Continuum Advisory LLC grew 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 acquiring an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock traded down $0.74 during trading hours on Monday, reaching $36.17. The stock had a trading volume of 7,441,129 shares, compared to its average volume of 14,347,771. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm has a 50-day simple moving average of $38.31 and a 200-day simple moving average of $42.60. The firm has a market capitalization of $51.98 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 0.87 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.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly 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 net margin of 7.42% and a return on equity of 7.50%. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FCX. JPMorgan Chase & Co. cut 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 note on Thursday, January 16th. Argus lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their target price for the stock from $40.00 to $48.00 in a report on Thursday. Scotiabank lowered their price target 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. Finally, Sanford C. Bernstein lowered Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $52.04.

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.