10,065 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Bought by Heck Capital Advisors LLC

Heck Capital Advisors LLC acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,065 shares of the natural resource company's stock, valued at approximately $383,000.

Other hedge funds have also made changes to their positions in the company. Truist Financial Corp boosted its position in Freeport-McMoRan by 22.8% in the 2nd quarter. Truist Financial Corp now owns 135,608 shares of the natural resource company's stock valued at $6,591,000 after buying an additional 25,214 shares during the last quarter. Cetera Investment Advisers grew its stake in Freeport-McMoRan by 10.1% during the 2nd quarter. Cetera Investment Advisers now owns 320,419 shares of the natural resource company's stock valued at $15,572,000 after purchasing an additional 29,394 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Freeport-McMoRan during the 2nd quarter worth approximately $7,582,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Freeport-McMoRan in the 2nd quarter valued at approximately $1,143,000. Finally, Czech National Bank boosted its stake in shares of Freeport-McMoRan by 6.9% during the 3rd quarter. Czech National Bank now owns 292,703 shares of the natural resource company's stock valued at $14,612,000 after buying an additional 18,967 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

Wall Street Analyst Weigh In

FCX has been the topic of several recent analyst reports. Jefferies Financial Group cut 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. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Sanford C. Bernstein lowered Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Scotiabank decreased their target price on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. Finally, Raymond James raised their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $51.46.

Freeport-McMoRan Trading Down 2.3 %

Shares of NYSE:FCX traded down $0.83 during mid-day trading on Friday, hitting $35.81. The stock had a trading volume of 13,384,377 shares, compared to its average volume of 13,272,459. Freeport-McMoRan Inc. has a 12-month low of $35.46 and a 12-month high of $55.24. 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 company 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. The company's 50 day moving average is $40.06 and its 200-day moving average is $43.39.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 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%. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.75 EPS for the current year.

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.