Strategic Financial Concepts LLC Makes New Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Strategic Financial Concepts LLC acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 55,190 shares of the natural resource company's stock, valued at approximately $2,102,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Godsey & Gibb Inc. increased its stake in Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company's stock worth $29,000 after purchasing an additional 346 shares in the last quarter. Laurel Wealth Advisors LLC increased its stake in Freeport-McMoRan by 487.8% during 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. Continuum Advisory LLC boosted its position in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock worth $37,000 after acquiring an additional 236 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in Freeport-McMoRan by 214.4% during the 3rd quarter. Wolff Wiese Magana LLC now owns 849 shares of the natural resource company's stock worth $42,000 after acquiring an additional 579 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Freeport-McMoRan during the 3rd quarter worth approximately $46,000. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Up 0.6 %

Shares of NYSE FCX opened at $38.47 on Tuesday. The stock has a market capitalization of $55.27 billion, a P/E ratio of 29.82, a P/E/G ratio of 0.81 and a beta of 1.85. The company has a 50-day moving average price of $39.25 and a 200-day moving average price of $43.01. Freeport-McMoRan Inc. has a 1 year low of $34.89 and a 1 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.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released 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 net margin of 7.42% and a return on equity of 7.50%. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FCX. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Jefferies Financial Group downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating and cut their price target for the company from $48.00 to $40.00 in a report on Friday, January 24th. BMO Capital Markets lowered their price objective 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. Finally, Raymond James increased their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $51.46.

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.

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