Stableford Capital II LLC Sells 409 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Stableford Capital II LLC trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,351 shares of the natural resource company’s stock after selling 409 shares during the quarter. Stableford Capital II LLC’s holdings in Freeport-McMoRan were worth $889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of FCX. Matrix Trust Co purchased a new position in shares of Freeport-McMoRan in the third quarter worth $25,000. Godsey & Gibb Inc. grew its holdings in Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 346 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in shares of 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. Continuum Advisory LLC raised its stake in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 236 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its holdings in shares of Freeport-McMoRan by 214.4% during the third quarter. Wolff Wiese Magana LLC now owns 849 shares of the natural resource company’s stock worth $42,000 after purchasing an additional 579 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FCX shares. Jefferies Financial Group downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating and reduced their price target for the company from $48.00 to $40.00 in a report on Friday, January 24th. Scotiabank reduced their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Raymond James lifted their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets decreased their price objective 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. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Trading Down 2.3 %

Shares of NYSE FCX opened at $35.81 on Friday. Freeport-McMoRan Inc. has a 1 year low of $35.46 and a 1 year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm has a 50-day moving average of $40.06 and a 200 day moving average of $43.43. The stock has a market cap of $51.46 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 0.86 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. As a group, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.75 EPS for the current fiscal year.

Freeport-McMoRan Company 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.