Wolverine Asset Management LLC Has $457,000 Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Wolverine Asset Management LLC lowered its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 44.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,000 shares of the natural resource company's stock after selling 9,500 shares during the period. Wolverine Asset Management LLC's holdings in Freeport-McMoRan were worth $457,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC boosted its position in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after buying an additional 600 shares during the period. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $28,000. Continuum Advisory LLC lifted 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 in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Freeport-McMoRan during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Stock Down 1.6 %

Shares of NYSE FCX traded down $0.60 during mid-day trading on Thursday, reaching $37.35. 13,143,335 shares of the company traded hands, compared to its average volume of 14,531,678. Freeport-McMoRan Inc. has a fifty-two week low of $34.89 and a fifty-two week high of $55.24. The company's fifty day moving average is $38.37 and its two-hundred day moving average is $42.66. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The stock has a market cap of $53.67 billion, a PE ratio of 28.95, a price-to-earnings-growth ratio of 0.87 and a beta of 1.85.

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%. On average, analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on FCX shares. Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their price objective for the stock from $40.00 to $48.00 in a report on Thursday. Scotiabank cut their price objective on 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. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, BMO Capital Markets dropped their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $52.04.

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.