Nwam LLC Sells 15,425 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Nwam LLC trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,975 shares of the natural resource company's stock after selling 15,425 shares during the period. Nwam LLC's holdings in Freeport-McMoRan were worth $3,883,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Asset Planning Inc purchased a new position in Freeport-McMoRan during the 4th quarter valued at about $25,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at approximately $28,000. Financial Life Planners acquired a new position in Freeport-McMoRan in the 4th quarter valued at approximately $36,000. Finally, Continuum Advisory LLC boosted its stake in shares of 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 buying an additional 236 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FCX shares. Sanford C. Bernstein lowered Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their price objective for the stock from $40.00 to $48.00 in a report on Thursday. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research note on Friday, January 24th. Finally, Argus downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.04.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock traded down $0.51 during mid-day trading on Friday, reaching $36.92. The company had a trading volume of 14,776,973 shares, compared to its average volume of 14,538,130. The company has a 50 day moving average of $38.31 and a 200-day moving average of $42.59. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a market cap of $53.05 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 0.87 and a beta of 1.85.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results 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, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal 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.