Blue Trust Inc. Sells 6,754 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Blue Trust Inc. trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 71.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,759 shares of the natural resource company’s stock after selling 6,754 shares during the period. Blue Trust Inc.’s holdings in Freeport-McMoRan were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in FCX. Asset Planning Inc purchased a new stake in Freeport-McMoRan in the fourth quarter worth $25,000. Laurel Wealth Advisors LLC boosted its stake in 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 buying an additional 600 shares during the period. Continuum Advisory LLC boosted its stake in 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 buying an additional 236 shares during the period. FSA Wealth Management LLC bought a new stake in Freeport-McMoRan during the third quarter valued at $46,000. Finally, Financial Life Planners purchased a new stake in Freeport-McMoRan during the fourth quarter valued at about $36,000. 80.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FCX has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Scotiabank cut their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group cut Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their price objective for the company from $48.00 to $40.00 in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $36.97 on Friday. 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’s 50 day moving average price is $38.53 and its 200-day moving average price is $42.72. Freeport-McMoRan Inc. has a 52 week low of $34.89 and a 52 week high of $55.24. The stock has a market cap of $53.13 billion, a P/E ratio of 28.66, a P/E/G ratio of 0.87 and a beta of 1.85.

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%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

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.