Greenwood Capital Associates LLC Has $2.18 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Greenwood Capital Associates LLC decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 38.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,167 shares of the natural resource company's stock after selling 35,528 shares during the quarter. Greenwood Capital Associates LLC's holdings in Freeport-McMoRan were worth $2,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Matrix Trust Co bought a new stake in shares of Freeport-McMoRan in the third quarter valued at approximately $25,000. Laurel Wealth Advisors LLC increased its stake 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 valued at $28,000 after purchasing an additional 600 shares in the last quarter. Godsey & Gibb Inc. raised its holdings in shares of Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company's stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Financial Life Planners purchased a new position in shares of Freeport-McMoRan in the 4th quarter worth about $36,000. Finally, Continuum Advisory LLC grew its holdings in Freeport-McMoRan by 46.8% during the third 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 and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

NYSE:FCX traded up $0.44 on Wednesday, hitting $36.92. The company's stock had a trading volume of 7,733,920 shares, compared to its average volume of 14,255,905. The firm has a market capitalization of $53.05 billion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 0.85 and a beta of 1.85. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a one year low of $34.89 and a one year high of $55.24. The stock has a fifty day moving average of $39.75 and a two-hundred day moving average of $43.21.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings results 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 7.50% and a net margin of 7.42%. Research analysts predict that Freeport-McMoRan Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on FCX shares. Jefferies Financial Group cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating and decreased their price objective for the company from $48.00 to $40.00 in a research report on Friday, January 24th. Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Raymond James lifted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. BMO Capital Markets dropped their price target on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. dropped their target price on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.46.

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.