Sound View Wealth Advisors Group LLC Has $1.33 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Sound View Wealth Advisors Group LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 565.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,975 shares of the natural resource company's stock after acquiring an additional 29,718 shares during the quarter. Sound View Wealth Advisors Group LLC's holdings in Freeport-McMoRan were worth $1,332,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FCX. Prospera Private Wealth LLC raised its stake in Freeport-McMoRan by 4.4% during the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company's stock valued at $277,000 after buying an additional 234 shares in the last quarter. Continuum Advisory LLC increased its holdings in shares of Freeport-McMoRan by 46.8% in the 3rd 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 during the last quarter. Intellectus Partners LLC lifted its stake in Freeport-McMoRan by 0.4% during the third quarter. Intellectus Partners LLC now owns 71,758 shares of the natural resource company's stock worth $3,582,000 after purchasing an additional 256 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in Freeport-McMoRan by 1.8% during the third quarter. Mesirow Financial Investment Management Inc. now owns 15,646 shares of the natural resource company's stock worth $781,000 after purchasing an additional 279 shares during the last quarter. Finally, PFG Investments LLC boosted its holdings in Freeport-McMoRan by 1.3% in the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company's stock worth $872,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FCX. BMO Capital Markets reduced their price target on shares of 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 lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their price target for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. JPMorgan Chase & Co. reduced 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. Finally, Sanford C. Bernstein cut Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.75.

Freeport-McMoRan Stock Performance

Shares of FCX traded up $1.54 during mid-day trading on Tuesday, hitting $36.04. The company's stock had a trading volume of 12,104,807 shares, compared to its average volume of 15,230,000. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24. The stock's 50-day moving average is $37.98 and its two-hundred day moving average is $42.28. The firm has a market capitalization of $51.80 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

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 (EPS) 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, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

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.