Mader & Shannon Wealth Management Inc. Acquires Shares of 28,465 Freeport-McMoRan Inc. (NYSE:FCX)

Mader & Shannon Wealth Management Inc. bought a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,465 shares of the natural resource company's stock, valued at approximately $1,084,000. Freeport-McMoRan accounts for about 0.7% of Mader & Shannon Wealth Management Inc.'s holdings, making the stock its 18th largest holding.

Several other large investors have also recently bought and sold shares of FCX. Fidelis Capital Partners LLC increased its stake in shares of Freeport-McMoRan by 2.0% during the 3rd quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company's stock worth $560,000 after purchasing an additional 231 shares during the last quarter. Prospera Private Wealth LLC raised its stake in Freeport-McMoRan by 4.4% in the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company's stock valued at $277,000 after acquiring an additional 234 shares during the period. Continuum Advisory LLC increased its stake 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 purchasing an additional 236 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Freeport-McMoRan by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 50,431 shares of the natural resource company's stock valued at $2,518,000 after purchasing an additional 244 shares during the period. Finally, Intellectus Partners LLC lifted its stake in shares of Freeport-McMoRan by 0.4% during the 3rd quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company's stock valued at $3,582,000 after buying an additional 256 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Shares of FCX stock traded up $0.29 on Monday, hitting $37.27. 5,358,598 shares of the stock traded hands, compared to its average volume of 14,525,840. The firm has a market cap of $53.56 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 0.87 and a beta of 1.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $38.53 and a two-hundred day simple moving average of $42.75. 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 posted its quarterly 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, equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jefferies Financial Group downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating and cut their target price for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. 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 report on Thursday, January 16th. Scotiabank reduced 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 report on Friday, January 24th. Finally, BMO Capital Markets decreased 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 note on Friday, January 24th. 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.46.

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.