Sowell Financial Services LLC Purchases 8,628 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Sowell Financial Services LLC boosted its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 50.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,752 shares of the natural resource company's stock after purchasing an additional 8,628 shares during the quarter. Sowell Financial Services LLC's holdings in Freeport-McMoRan were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC boosted its holdings in Freeport-McMoRan by 9.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company's stock worth $8,219,000 after acquiring an additional 14,501 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Freeport-McMoRan in the 3rd quarter valued at approximately $754,000. Principal Financial Group Inc. raised its position in shares of Freeport-McMoRan by 4.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company's stock valued at $84,085,000 after acquiring an additional 66,699 shares in the last quarter. Czech National Bank raised its position in shares of Freeport-McMoRan by 6.4% during the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company's stock valued at $11,864,000 after acquiring an additional 18,852 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in shares of Freeport-McMoRan by 1,206.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,055 shares of the natural resource company's stock valued at $652,000 after acquiring an additional 12,056 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

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Freeport-McMoRan Trading Up 4.0 %

Shares of FCX stock traded up $1.38 on Tuesday, reaching $35.88. 18,344,187 shares of the stock were exchanged, compared to its average volume of 15,388,816. The stock has a market cap of $51.55 billion, a PE ratio of 27.81, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24. 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 stock has a 50 day moving average price of $37.94 and a 200 day moving average price of $42.22.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BMO Capital Markets dropped their target price on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday. Scotiabank decreased their price target 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 raised 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 research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of "Moderate Buy" and a consensus price target of $51.75.

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.