Sigma Planning Corp Lowers Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Sigma Planning Corp lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 58.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,075 shares of the natural resource company’s stock after selling 23,043 shares during the quarter. Sigma Planning Corp’s holdings in Freeport-McMoRan were worth $684,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FCX. Bruce G. Allen Investments LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth approximately $27,000. BluePath Capital Management LLC acquired a new stake in Freeport-McMoRan during the 3rd quarter worth approximately $28,000. Webster Bank N. A. increased its position in Freeport-McMoRan by 6,469.2% during the 4th quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock worth $36,000 after purchasing an additional 841 shares in the last quarter. CVA Family Office LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth approximately $38,000. Finally, Orion Capital Management LLC acquired a new stake in Freeport-McMoRan during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Raymond James increased their target price on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Bernstein Bank increased their price objective on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research report on Tuesday. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $41.00 to $48.50 in a research report on Monday, January 8th. Finally, Scotiabank lowered their price objective on shares of Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.77.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $48.24 on Thursday. The stock has a market cap of $69.20 billion, a P/E ratio of 42.69, a price-to-earnings-growth ratio of 2.20 and a beta of 2.04. The company has a current ratio of 2.35, a quick ratio of 1.38 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $44.02 and a 200-day moving average of $40.14. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $52.42.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 EPS. On average, analysts expect that Freeport-McMoRan Inc. will post 1.57 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 26.55%.

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.