Nwam LLC Sells 15,425 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Nwam LLC decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 13.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,975 shares of the natural resource company’s stock after selling 15,425 shares during the period. Nwam LLC’s holdings in Freeport-McMoRan were worth $3,883,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Asset Planning Inc purchased a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $25,000. Laurel Wealth Advisors LLC lifted its holdings in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares during the period. Roxbury Financial LLC bought a new stake in Freeport-McMoRan during the fourth quarter valued at approximately $28,000. Financial Life Planners purchased a new stake in shares of Freeport-McMoRan in the 4th quarter worth $36,000. Finally, Continuum Advisory LLC raised 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 worth $37,000 after buying an additional 236 shares during the period. 80.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on FCX. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price target for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Finally, BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report 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. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.46.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $38.03 on Thursday. 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. The stock has a market capitalization of $54.64 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 0.87 and a beta of 1.85. The business’s 50 day moving average is $38.37 and its two-hundred day moving average is $42.66.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

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.