Venturi Wealth Management LLC Raises Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Venturi Wealth Management LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 68.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,974 shares of the natural resource company’s stock after purchasing an additional 12,213 shares during the period. Venturi Wealth Management LLC’s holdings in Freeport-McMoRan were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FCX. Citizens & Northern Corp grew its stake in shares of Freeport-McMoRan by 2.4% during the 4th quarter. Citizens & Northern Corp now owns 18,907 shares of the natural resource company’s stock valued at $720,000 after acquiring an additional 450 shares during the period. Empower Advisory Group LLC boosted its position in shares of Freeport-McMoRan by 5,518.7% in the fourth quarter. Empower Advisory Group LLC now owns 549,622 shares of the natural resource company’s stock worth $20,930,000 after purchasing an additional 539,840 shares during the period. Truist Financial Corp boosted its position in shares of Freeport-McMoRan by 1.7% in the fourth quarter. Truist Financial Corp now owns 136,594 shares of the natural resource company’s stock worth $5,202,000 after purchasing an additional 2,311 shares during the period. CIBC Asset Management Inc raised its position in shares of Freeport-McMoRan by 3.8% during the 4th quarter. CIBC Asset Management Inc now owns 224,387 shares of the natural resource company’s stock valued at $8,545,000 after purchasing an additional 8,317 shares during the period. Finally, Sanctuary Advisors LLC lifted its stake in shares of Freeport-McMoRan by 23.3% during the 4th quarter. Sanctuary Advisors LLC now owns 202,927 shares of the natural resource company’s stock valued at $7,435,000 after buying an additional 38,287 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Down 0.5 %

Shares of FCX opened at $39.27 on Wednesday. The firm has a market cap of $56.42 billion, a P/E ratio of 30.44, a PEG ratio of 0.81 and a beta of 1.85. The stock’s 50 day moving average is $38.77 and its two-hundred day moving average is $42.79. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12 month low of $34.89 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data 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%. Analysts predict that Freeport-McMoRan Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Raymond James lifted their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their price objective for the company from $48.00 to $40.00 in a research report on Friday, January 24th. Finally, Scotiabank dropped their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.46.

About Freeport-McMoRan

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.