Frank Rimerman Advisors LLC Sells 327 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Frank Rimerman Advisors LLC cut its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,397 shares of the natural resource company’s stock after selling 327 shares during the period. Frank Rimerman Advisors LLC’s holdings in Freeport-McMoRan were worth $396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $27,000. Laurel Wealth Advisors LLC lifted its stake in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $29,000. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Up 3.5 %

FCX opened at $38.91 on Monday. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The stock’s fifty day moving average is $37.93 and its two-hundred day moving average is $42.07. The company has a market capitalization of $55.91 billion, a P/E ratio of 30.16, a PEG ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) 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%. Analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FCX shares. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. JPMorgan Chase & Co. decreased 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. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Scotiabank decreased 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. Six analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

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.