Geneos Wealth Management Inc. acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,301 shares of the natural resource company’s stock, valued at approximately $278,000.
Several other institutional investors have also recently modified their holdings of FCX. Matrix Trust Co purchased a new stake in Freeport-McMoRan in the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Freeport-McMoRan in the 2nd quarter worth approximately $27,000. Laurel Wealth Advisors LLC boosted 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 in the last quarter. Godsey & Gibb Inc. raised its position 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 purchasing an additional 346 shares during the period. Finally, Continuum Advisory LLC lifted its stake in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.
Freeport-McMoRan Trading Up 1.2 %
NYSE FCX opened at $36.28 on Thursday. The firm has a market capitalization of $52.14 billion, a PE ratio of 26.48, a P/E/G ratio of 2.39 and a beta of 1.87. The stock’s 50 day moving average is $40.36 and its 200 day moving average is $43.58. Freeport-McMoRan Inc. has a twelve month low of $35.46 and a twelve month high of $55.24. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31.
Analyst Ratings Changes
FCX has been the topic of a number of recent research reports. Scotiabank reduced their price objective 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. lowered their price objective 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. Raymond James raised their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. 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 report on Friday, January 24th. Finally, Jefferies Financial Group lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their price target for the stock from $48.00 to $40.00 in a report on Friday, January 24th. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.46.
View Our Latest Stock Analysis on FCX
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.
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