Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 36.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,100 shares of the natural resource company's stock after selling 13,500 shares during the quarter. Paradigm Asset Management Co. LLC's holdings in Freeport-McMoRan were worth $880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FCX. Eastern Bank purchased a new stake in Freeport-McMoRan in the 3rd quarter valued at $536,000. Private Advisor Group LLC grew its holdings in shares of Freeport-McMoRan by 1.1% in the third quarter. Private Advisor Group LLC now owns 77,315 shares of the natural resource company's stock valued at $3,860,000 after purchasing an additional 842 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in Freeport-McMoRan by 38.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 8,314 shares of the natural resource company's stock worth $416,000 after purchasing an additional 2,307 shares during the last quarter. Greenleaf Trust increased its position in Freeport-McMoRan by 1.6% during the third quarter. Greenleaf Trust now owns 25,414 shares of the natural resource company's stock worth $1,269,000 after purchasing an additional 409 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Freeport-McMoRan by 5,249.5% during the third quarter. International Assets Investment Management LLC now owns 1,341,335 shares of the natural resource company's stock worth $66,959,000 after purchasing an additional 1,316,261 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 1.0 %

Shares of Freeport-McMoRan stock traded down $0.36 during trading on Tuesday, hitting $36.76. 10,522,517 shares of the stock were exchanged, compared to its average volume of 14,503,521. The stock has a market cap of $52.82 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85. The firm's 50-day moving average price is $38.46 and its 200 day moving average price is $42.72. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued 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 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on FCX. BMO Capital Markets dropped 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. Scotiabank lowered their price objective 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. Jefferies Financial Group downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating and reduced their target price for the company from $48.00 to $40.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. 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 Company 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.