Geneos Wealth Management Inc. Buys New Shares in Freeport-McMoRan Inc. (NYSE:FCX)

Geneos Wealth Management Inc. bought a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,301 shares of the natural resource company's stock, valued at approximately $278,000.

Several other large investors also recently added to or reduced their stakes in FCX. Matrix Trust Co acquired a new position in Freeport-McMoRan in the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Freeport-McMoRan during the 2nd quarter worth $27,000. Laurel Wealth Advisors LLC boosted its holdings in 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 purchasing an additional 600 shares in the last quarter. Godsey & Gibb Inc. raised its holdings in Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company's stock valued at $29,000 after buying an additional 346 shares in the last quarter. Finally, 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 buying an additional 236 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FCX shares. Scotiabank decreased their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. BMO Capital Markets cut their target price 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. 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 research note on Wednesday, October 23rd. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group cut Freeport-McMoRan from a "buy" rating to a "hold" rating and lowered their target price for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Eight equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.46.

Freeport-McMoRan Stock Up 0.2 %

NYSE:FCX traded up $0.08 on Thursday, hitting $36.36. 3,681,988 shares of the company's stock were exchanged, compared to its average volume of 14,155,366. The company has a market cap of $52.24 billion, a P/E ratio of 26.54, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. The firm has a 50-day moving average price of $40.36 and a 200-day moving average price of $43.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. Freeport-McMoRan Inc. has a 52 week low of $35.46 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. As a group, analysts expect that Freeport-McMoRan Inc. will post 1.42 EPS for the current fiscal year.

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.