Sigma Planning Corp Has $7.94 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)


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Sigma Planning Corp lifted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 424.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 305,175 shares of the natural resource company’s stock after acquiring an additional 246,947 shares during the period. Sigma Planning Corp’s holdings in Freeport-McMoRan were worth $7,941,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Chiron Capital Management LLC acquired a new position in Freeport-McMoRan during the third quarter worth about $26,000. Berman Capital Advisors LLC raised its stake in Freeport-McMoRan by 96.2% during the third quarter. Berman Capital Advisors LLC now owns 2,178 shares of the natural resource company’s stock worth $33,000 after acquiring an additional 1,068 shares in the last quarter. JustInvest LLC raised its stake in Freeport-McMoRan by 5.6% during the fourth quarter. JustInvest LLC now owns 13,488 shares of the natural resource company’s stock worth $34,000 after acquiring an additional 721 shares in the last quarter. Capstone Triton Financial Group LLC acquired a new position in Freeport-McMoRan during the fourth quarter worth about $35,000. Finally, Valeo Financial Advisors LLC raised its stake in Freeport-McMoRan by 65.0% during the third quarter. Valeo Financial Advisors LLC now owns 2,277 shares of the natural resource company’s stock worth $36,000 after acquiring an additional 897 shares in the last quarter. 72.30% of the stock is owned by institutional investors.

FCX has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Freeport-McMoRan from $20.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, January 13th. B. Riley boosted their price target on Freeport-McMoRan from $32.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Argus upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, January 5th. Raymond James set a $32.00 target price on Freeport-McMoRan and gave the company a “market perform” rating in a report on Thursday, February 4th. Finally, TheStreet upgraded Freeport-McMoRan from a “c” rating to a “b-” rating in a report on Tuesday, January 26th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.12.

NYSE FCX traded down $0.99 during trading hours on Tuesday, hitting $37.09. The company had a trading volume of 915,189 shares, compared to its average volume of 24,691,752. Freeport-McMoRan Inc. has a 52 week low of $4.82 and a 52 week high of $39.10. The firm has a 50 day simple moving average of $30.72 and a 200 day simple moving average of $21.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 2.61. The firm has a market capitalization of $53.89 billion, a price-to-earnings ratio of -423.06 and a beta of 2.27.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Monday, January 25th. The natural resource company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Freeport-McMoRan had a positive return on equity of 1.56% and a negative net margin of 0.73%. The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter last year, the company earned $0.02 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, research analysts forecast that Freeport-McMoRan Inc. will post 0.56 earnings per share for the current year.

In other Freeport-McMoRan news, CFO Kathleen L. Quirk sold 485,000 shares of the firm’s stock in a transaction dated Friday, December 4th. The stock was sold at an average price of $25.27, for a total value of $12,255,950.00. Following the sale, the chief financial officer now owns 1,890,655 shares of the company’s stock, valued at approximately $47,776,851.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard C. Adkerson sold 467,887 shares of the firm’s stock in a transaction dated Friday, December 4th. The shares were sold at an average price of $25.17, for a total value of $11,776,715.79. Following the completion of the sale, the chief executive officer now directly owns 3,724,573 shares in the company, valued at approximately $93,747,502.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,001,127 shares of company stock valued at $25,520,387. 1.00% of the stock is owned by corporate insiders.

About Freeport-McMoRan

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino 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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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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