Diversify Advisory Services LLC Acquires 806 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Diversify Advisory Services LLC lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,385 shares of the natural resource company’s stock after purchasing an additional 806 shares during the period. Diversify Advisory Services LLC’s holdings in Freeport-McMoRan were worth $678,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Deane Retirement Strategies Inc. boosted its stake in Freeport-McMoRan by 0.4% in the third quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company’s stock valued at $2,357,000 after acquiring an additional 201 shares during the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Freeport-McMoRan by 1.0% in the 3rd quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock worth $1,037,000 after purchasing an additional 214 shares during the period. Trust Co. of Vermont grew its stake in shares of Freeport-McMoRan by 5.2% during the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock worth $228,000 after acquiring an additional 228 shares during the period. Fidelis Capital Partners LLC boosted its position in Freeport-McMoRan by 2.0% during the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock worth $560,000 after purchasing an additional 231 shares during the period. Finally, Prospera Private Wealth LLC raised its position in shares of Freeport-McMoRan by 4.4% in the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock valued at $277,000 after purchasing an additional 234 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $40.32 on Wednesday. The stock has a market capitalization of $57.93 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 2.21 and a beta of 1.87. The company has a fifty day moving average of $41.09 and a 200-day moving average of $44.12. Freeport-McMoRan Inc. has a 52-week low of $36.26 and a 52-week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period last year, the firm earned $0.39 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.47 EPS for the current year.

Wall Street Analyst Weigh In

FCX has been the topic of a number of analyst reports. Raymond James boosted their target price 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. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Scotiabank lowered their price objective on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.

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.