Proficio Capital Partners LLC Has $9.08 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Proficio Capital Partners LLC increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 360.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 238,311 shares of the natural resource company's stock after purchasing an additional 186,554 shares during the quarter. Proficio Capital Partners LLC's holdings in Freeport-McMoRan were worth $9,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Asset Planning Inc purchased a new position in Freeport-McMoRan during the fourth quarter valued at $25,000. Laurel Wealth Advisors LLC lifted its position 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 valued at $28,000 after acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter worth about $28,000. Financial Life Planners purchased a new stake in shares of Freeport-McMoRan during the fourth quarter worth about $36,000. Finally, Continuum Advisory LLC raised its stake in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock valued at $37,000 after purchasing an additional 236 shares during the period. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

NYSE FCX traded down $1.42 during trading hours on Monday, hitting $35.49. 18,098,115 shares of the company's stock traded hands, compared to its average volume of 14,627,199. 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's 50-day moving average is $38.23 and its 200-day moving average is $42.54. The company has a market capitalization of $51.00 billion, a PE ratio of 27.51, a PEG ratio of 0.87 and a beta of 1.85. Freeport-McMoRan Inc. has a 52-week low of $34.89 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced 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 net margin of 7.42% and a return on equity of 7.50%. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. BMO Capital Markets decreased their target price on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Sanford C. Bernstein cut Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank reduced their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their price target for the stock from $40.00 to $48.00 in a research report on Thursday. Eight 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.