Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Dakota Wealth Management

Dakota Wealth Management reduced its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,156 shares of the natural resource company’s stock after selling 3,899 shares during the period. Dakota Wealth Management’s holdings in Freeport-McMoRan were worth $3,357,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Matrix Trust Co purchased a new position in Freeport-McMoRan in the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Freeport-McMoRan in the second quarter valued at about $27,000. Godsey & Gibb Inc. grew its stake in Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Laurel Wealth Advisors LLC increased its holdings in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the last quarter. Finally, Continuum Advisory LLC raised its position in shares of Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FCX shares. StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Raymond James upped their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group lowered their price objective on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.42.

Freeport-McMoRan Price Performance

Shares of FCX opened at $39.07 on Thursday. Freeport-McMoRan Inc. has a 12 month low of $36.26 and a 12 month high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The stock has a fifty day moving average price of $41.01 and a 200 day moving average price of $44.08. The company has a market cap of $56.14 billion, a P/E ratio of 28.52, a PEG ratio of 2.30 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.43 earnings per share for the current year.

Freeport-McMoRan 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.