Independent Advisor Alliance Buys 5,006 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Independent Advisor Alliance grew its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 34.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,424 shares of the natural resource company’s stock after acquiring an additional 5,006 shares during the period. Independent Advisor Alliance’s holdings in Freeport-McMoRan were worth $740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of FCX. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $25,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC raised its stake in shares of Freeport-McMoRan by 487.8% during 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 in the last quarter. Roxbury Financial LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $38.91 on Monday. Freeport-McMoRan Inc. has a fifty-two week low of $33.98 and a fifty-two week high of $55.24. The firm has a market capitalization of $55.91 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The stock’s 50-day simple moving average is $37.93 and its 200-day simple moving average is $42.07.

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

Analyst Ratings Changes

FCX has been the subject of several research reports. BMO Capital Markets lowered their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Scotiabank lowered their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.75.

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.