Ieq Capital LLC Purchases 11,984 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Ieq Capital LLC grew its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,538 shares of the natural resource company's stock after buying an additional 11,984 shares during the quarter. Ieq Capital LLC's holdings in Freeport-McMoRan were worth $2,915,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Asset Planning Inc purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC lifted its stake in shares of 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 buying an additional 600 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan in the 4th quarter worth $28,000. Financial Life Planners bought a new stake in Freeport-McMoRan during the fourth quarter valued at about $36,000. 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 valued at $37,000 after acquiring an additional 236 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on FCX shares. 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. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. JPMorgan Chase & Co. cut their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Scotiabank decreased 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 note on Friday, January 24th. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $51.46.

Freeport-McMoRan Trading Up 3.4 %

Shares of FCX stock traded up $1.27 on Wednesday, reaching $38.03. 16,569,888 shares of the company's stock were exchanged, compared to its average volume of 14,487,355. The company's fifty day simple moving average is $38.38 and its 200 day simple moving average is $42.69. The stock has a market capitalization of $54.64 billion, a PE ratio of 29.48, a P/E/G ratio of 0.87 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 52 week low of $34.89 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current 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.