Inspire Advisors LLC Grows Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Inspire Advisors LLC increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 2.6% in the 4th quarter, HoldingsChannel reports. The fund owned 12,965 shares of the natural resource company’s stock after buying an additional 325 shares during the quarter. Inspire Advisors LLC’s holdings in Freeport-McMoRan were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sage Mountain Advisors LLC grew its holdings in Freeport-McMoRan by 10.0% during the 4th quarter. Sage Mountain Advisors LLC now owns 9,422 shares of the natural resource company’s stock valued at $359,000 after buying an additional 856 shares in the last quarter. Independent Advisor Alliance grew its holdings in Freeport-McMoRan by 34.7% during the 4th quarter. Independent Advisor Alliance now owns 19,424 shares of the natural resource company’s stock valued at $740,000 after buying an additional 5,006 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Freeport-McMoRan by 7.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 193,549 shares of the natural resource company’s stock valued at $7,370,000 after buying an additional 13,531 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Freeport-McMoRan by 15.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 392,207 shares of the natural resource company’s stock valued at $14,935,000 after purchasing an additional 53,118 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC grew its holdings in shares of Freeport-McMoRan by 565.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 34,975 shares of the natural resource company’s stock valued at $1,332,000 after purchasing an additional 29,718 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FCX has been the subject of a number of recent research reports. Scotiabank cut their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. BMO Capital Markets cut their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $51.75.

Freeport-McMoRan Stock Up 4.0 %

Shares of NYSE:FCX opened at $35.88 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $37.94 and a two-hundred day moving average of $42.22. The stock has a market cap of $51.55 billion, a P/E ratio of 27.81, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results 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 net margin of 7.42% and a return on equity of 7.50%. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

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.