Golden State Equity Partners Increases Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Golden State Equity Partners lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 291.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,169 shares of the natural resource company's stock after purchasing an additional 11,298 shares during the period. Golden State Equity Partners' holdings in Freeport-McMoRan were worth $578,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FCX. Matrix Trust Co purchased a new stake in Freeport-McMoRan during 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. increased its stake in Freeport-McMoRan by 150.4% during the 3rd 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 in the last quarter. Continuum Advisory LLC increased 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 in the last quarter. Finally, Versant Capital Management Inc increased its stake in Freeport-McMoRan by 194.4% during the 4th quarter. Versant Capital Management Inc now owns 1,042 shares of the natural resource company's stock valued at $40,000 after purchasing an additional 688 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Down 2.3 %

FCX stock opened at $35.81 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a market cap of $51.46 billion, a PE ratio of 27.76, a P/E/G ratio of 0.86 and a beta of 1.87. Freeport-McMoRan Inc. has a one year low of $35.46 and a one year high of $55.24. The firm's fifty day moving average is $40.06 and its 200 day moving average is $43.35.

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 net margin of 7.42% and a return on equity of 7.50%. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FCX. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Scotiabank cut 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. Jefferies Financial Group lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating and cut their price objective for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price objective 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. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Freeport-McMoRan currently has an average rating of "Moderate Buy" and a consensus target price of $51.46.

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.

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