Murphy Pohlad Asset Management LLC Trims Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Murphy Pohlad Asset Management LLC lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 41.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,876 shares of the natural resource company’s stock after selling 9,084 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Freeport-McMoRan were worth $490,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in shares of Freeport-McMoRan by 28.1% in the 2nd quarter. AQR Capital Management LLC now owns 285,529 shares of the natural resource company’s stock worth $13,877,000 after buying an additional 62,663 shares during the period. Creative Planning lifted its stake in Freeport-McMoRan by 28.7% in the second quarter. Creative Planning now owns 202,693 shares of the natural resource company’s stock worth $9,851,000 after acquiring an additional 45,212 shares during the period. Sunbelt Securities Inc. grew its holdings in Freeport-McMoRan by 2.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 11,441 shares of the natural resource company’s stock worth $556,000 after acquiring an additional 302 shares in the last quarter. EP Wealth Advisors LLC increased its position in Freeport-McMoRan by 10.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 13,348 shares of the natural resource company’s stock valued at $649,000 after purchasing an additional 1,282 shares during the period. Finally, Truist Financial Corp raised its holdings in shares of Freeport-McMoRan by 22.8% in the 2nd quarter. Truist Financial Corp now owns 135,608 shares of the natural resource company’s stock valued at $6,591,000 after purchasing an additional 25,214 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Scotiabank lowered their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Jefferies Financial Group lowered Freeport-McMoRan from a “buy” rating to a “hold” rating and cut their target price for the company from $48.00 to $40.00 in a research note on Friday, January 24th. Raymond James increased their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target 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. Finally, Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $36.28 on Thursday. The stock has a market cap of $52.14 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. Freeport-McMoRan Inc. has a 52-week low of $35.46 and a 52-week high of $55.24. The business has a 50-day simple moving average of $40.36 and a 200-day simple moving average of $43.58. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.42 EPS for the current 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.