Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Strategic Blueprint LLC

Strategic Blueprint LLC reduced its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 37.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,102 shares of the natural resource company's stock after selling 32,335 shares during the quarter. Strategic Blueprint LLC's holdings in Freeport-McMoRan were worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Matrix Trust Co bought a new stake in Freeport-McMoRan in the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Freeport-McMoRan during the 2nd quarter valued at $27,000. Godsey & Gibb Inc. lifted its position in Freeport-McMoRan by 150.4% during the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company's stock worth $29,000 after acquiring an additional 346 shares during the last quarter. Laurel Wealth Advisors LLC raised its stake in Freeport-McMoRan by 487.8% in the 4th 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 in the last quarter. Finally, Continuum Advisory LLC boosted 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 valued at $37,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Trading Up 0.2 %

FCX stock traded up $0.08 during midday trading on Thursday, reaching $36.36. 3,681,988 shares of the company traded hands, compared to its average volume of 14,155,366. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The firm has a market capitalization of $52.24 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 2.39 and a beta of 1.87. Freeport-McMoRan Inc. has a 52-week low of $35.46 and a 52-week high of $55.24. The business has a 50 day moving average of $40.36 and a 200-day moving average of $43.58.

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 for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. As a group, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on FCX. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Friday, January 24th. BMO Capital Markets lowered their target price on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Raymond James raised their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Jefferies Financial Group downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating and dropped their price objective for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Finally, Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price 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.