Signaturefd LLC Reduces Position in Freeport-McMoRan Inc. (NYSE:FCX)

Signaturefd LLC lessened its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,410 shares of the natural resource company’s stock after selling 486 shares during the quarter. Signaturefd LLC’s holdings in Freeport-McMoRan were worth $1,234,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC grew its stake in Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after buying an additional 234 shares during the last quarter. Continuum Advisory LLC grew its stake in Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares during the last quarter. PFG Investments LLC grew its stake in Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after buying an additional 283 shares during the last quarter. Larson Financial Group LLC grew its stake in Freeport-McMoRan by 14.6% during the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after buying an additional 287 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in Freeport-McMoRan by 0.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 32,339 shares of the natural resource company’s stock worth $1,614,000 after acquiring an additional 298 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $39.82 on Wednesday. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24. The company has a market capitalization of $57.23 billion, a P/E ratio of 30.87, a PEG ratio of 0.87 and a beta of 1.87. The business has a 50 day moving average price of $37.97 and a 200 day moving average price of $42.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on FCX. BMO Capital Markets decreased their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Scotiabank decreased their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Finally, Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.75.

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.