Dynamic Advisor Solutions LLC Buys 7,032 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Dynamic Advisor Solutions LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 41.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,060 shares of the natural resource company’s stock after purchasing an additional 7,032 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Freeport-McMoRan were worth $916,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FCX. Sanctuary Advisors LLC increased its stake in Freeport-McMoRan by 9.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock worth $8,219,000 after acquiring an additional 14,501 shares during the last quarter. Easterly Investment Partners LLC increased its position in Freeport-McMoRan by 137.5% in the third quarter. Easterly Investment Partners LLC now owns 147,735 shares of the natural resource company’s stock worth $7,375,000 after purchasing an additional 85,542 shares during the last quarter. Summit Global Investments raised its stake in Freeport-McMoRan by 1,559.3% during the third quarter. Summit Global Investments now owns 76,493 shares of the natural resource company’s stock valued at $3,819,000 after purchasing an additional 71,883 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Freeport-McMoRan during the third quarter valued at $754,000. Finally, AIA Group Ltd grew its stake in shares of Freeport-McMoRan by 16.2% in the 3rd quarter. AIA Group Ltd now owns 92,224 shares of the natural resource company’s stock worth $4,604,000 after buying an additional 12,887 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $37.78 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The stock has a market cap of $54.29 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. The firm has a 50-day moving average of $40.81 and a two-hundred day moving average of $43.85. Freeport-McMoRan Inc. has a 1 year low of $36.26 and a 1 year high of $55.24.

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 7.81% and a return on equity of 7.40%. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FCX shares. Raymond James upped their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Scotiabank lowered their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $48.00 to $40.00 in a research note on Friday. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Freeport-McMoRan has a consensus 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.