Foster Victor Wealth Advisors LLC Has $11.98 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Foster Victor Wealth Advisors LLC increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,725 shares of the natural resource company's stock after acquiring an additional 45,289 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Freeport-McMoRan were worth $11,975,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. R Squared Ltd purchased a new position in Freeport-McMoRan during the fourth quarter valued at $206,000. Twelve Points Wealth Management LLC increased its position in Freeport-McMoRan by 9.1% during the fourth quarter. Twelve Points Wealth Management LLC now owns 44,313 shares of the natural resource company's stock worth $1,687,000 after purchasing an additional 3,680 shares during the last quarter. Foster Group Inc. increased its position in Freeport-McMoRan by 1.2% during the fourth quarter. Foster Group Inc. now owns 32,529 shares of the natural resource company's stock worth $1,239,000 after purchasing an additional 379 shares during the last quarter. Signature Wealth Management Partners LLC increased its position in Freeport-McMoRan by 16.4% during the fourth quarter. Signature Wealth Management Partners LLC now owns 7,100 shares of the natural resource company's stock worth $270,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its stake in shares of Freeport-McMoRan by 6.8% in the 4th quarter. Stonegate Investment Group LLC now owns 32,480 shares of the natural resource company's stock valued at $1,237,000 after acquiring an additional 2,055 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

FCX has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Jefferies Financial Group downgraded 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. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Finally, 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. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $51.46.

Freeport-McMoRan Trading Up 1.2 %

NYSE FCX traded up $0.44 on Wednesday, hitting $36.28. 12,598,905 shares of the company were exchanged, compared to its average volume of 14,747,075. The company's 50 day moving average price is $40.51 and its 200-day moving average price is $43.64. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The firm has a market capitalization of $52.14 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. Freeport-McMoRan Inc. has a twelve month low of $35.46 and a twelve month high of $55.24.

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 (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. Analysts predict that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal 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.