Inceptionr LLC Sells 7,263 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Inceptionr LLC reduced its position in shares of Freeport-McMoRan Inc. (NYSE:FCX[1] - Free Report[2]) by 30.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,785 shares of the natural resource company's stock after selling 7,263 shares during the quarter. Inceptionr LLC's holdings in Freeport-McMoRan were worth £639,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its position in Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company's stock worth £2,965,717,000 after acquiring an additional 1,392,494 shares in the last quarter.

Geode Capital Management LLC raised its position in shares of Freeport-McMoRan by 1.9% in the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company's stock valued at £1,436,455,000 after purchasing an additional 529,099 shares during the period. Franklin Resources Inc. raised its position in shares of Freeport-McMoRan by 9.5% in the third quarter.

Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company's stock valued at £1,348,522,000 after purchasing an additional 2,366,187 shares during the period. Mountaineer Partners Management LLC raised its position in shares of Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock valued at £595,702,000 after purchasing an additional 11,687,982 shares during the period.

Finally, Charles Schwab Investment Management Inc. raised its position in shares of Freeport-McMoRan by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,487,881 shares of the natural resource company's stock valued at £323,219,000 after purchasing an additional 264,843 shares during the period.

80.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FCX shares. JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from £55.00 to £48.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th.

Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their price objective for the company from £40.00 to £48.00 in a research report on Thursday, February 27th. Sanford C.

Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from £51.00 to £46.00 in a research report on Tuesday, January 7th. Finally, Scotiabank lowered their price target on shares of 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. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company.

Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of £51.75. View Our Latest Analysis on Freeport-McMoRan[3]

Freeport-McMoRan Trading Down 1.9 %

Shares of Freeport-McMoRan stock[4] opened at £36.97 on Friday. The company has a market capitalization of £53.13 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 0.87 and a beta of 1.87.

The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12-month low of £34.26 and a 12-month high of £55.24. The firm's 50-day moving average price is £38.10 and its two-hundred day moving average price is £42.42.

Freeport-McMoRan (NYSE:FCX[5] - Get Free Report[6]) last announced its quarterly earnings data 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 7.50% and a net margin of 7.42%.

On average, analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

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.

Further Reading

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com[8] to get the latest 13F filings and insider trades for Freeport-McMoRan Inc. (NYSE:FCX[9] - Free Report[10]).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication.

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References

1. ^ NYSE:FCX (www.marketbeat.com)
2. ^ Free Report (www.marketbeat.com)
3. ^ View Our Latest Analysis on Freeport-McMoRan (www.marketbeat.com)
4. ^ Freeport-McMoRan stock (www.marketbeat.com)
5. ^ NYSE:FCX (www.marketbeat.com)
6. ^ Get Free Report (www.marketbeat.com)
7. ^ Free Report (www.marketbeat.com)
8. ^ Visit HoldingsChannel.com (www.holdingschannel.com)
9. ^ NYSE:FCX (www.marketbeat.com)
10. ^ Free Report (www.marketbeat.com)
11. ^ five stocks (www.marketbeat.com)
12. ^ View The Five Stocks Here (www.marketbeat.com)
13. ^ Get This Free Report (marketbeat.com)