Impact Partnership Wealth LLC Takes Position in Freeport-McMoRan Inc. (NYSE:FCX)

Impact Partnership Wealth LLC purchased a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,981 shares of the natural resource company's stock, valued at approximately $532,000.

Several other institutional investors and hedge funds have also bought and sold shares of FCX. Fisher Asset Management LLC grew its holdings in shares of Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company's stock valued at $2,965,717,000 after buying an additional 1,392,494 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Freeport-McMoRan by 1.9% during the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company's stock valued at $1,436,455,000 after buying an additional 529,099 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Freeport-McMoRan by 9.5% during the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company's stock valued at $1,348,522,000 after buying an additional 2,366,187 shares during the last quarter. Mountaineer Partners Management LLC grew its holdings in shares of Freeport-McMoRan by 4,767.8% during the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock valued at $595,702,000 after buying an additional 11,687,982 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Freeport-McMoRan by 0.5% during the second quarter. Legal & General Group Plc now owns 10,343,109 shares of the natural resource company's stock valued at $502,675,000 after buying an additional 56,499 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of research analyst reports. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Raymond James upped their price target 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. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $48.00 to $40.00 in a research report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, BMO Capital Markets reduced their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $51.46.

Freeport-McMoRan Trading Down 1.9 %

Shares of Freeport-McMoRan stock traded down $0.72 during mid-day trading on Friday, hitting $37.78. The stock had a trading volume of 18,226,164 shares, compared to its average volume of 14,440,075. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. The firm has a market cap of $54.29 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. The firm has a 50-day moving average of $40.91 and a two-hundred day moving average of $44.04. Freeport-McMoRan Inc. has a 12-month low of $36.26 and a 12-month high of $55.24.

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 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%. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.42 earnings per share 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.