Sigma Planning Corp Has $684,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Sigma Planning Corp cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 58.9% in the fourth quarter, HoldingsChannel reports. The fund 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 SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its position in Freeport-McMoRan by 11.4% during the 4th quarter. Handelsbanken Fonder AB now owns 564,017 shares of the natural resource company’s stock worth $24,010,000 after acquiring an additional 57,778 shares during the period. CWM LLC lifted its holdings in shares of Freeport-McMoRan by 6.3% during the 4th quarter. CWM LLC now owns 37,394 shares of the natural resource company’s stock valued at $1,592,000 after buying an additional 2,220 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of Freeport-McMoRan by 1.8% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 39,940 shares of the natural resource company’s stock valued at $1,700,000 after buying an additional 722 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Freeport-McMoRan by 1.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 128,882 shares of the natural resource company’s stock valued at $5,487,000 after buying an additional 1,294 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. lifted its holdings in shares of Freeport-McMoRan by 3.8% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 8,494 shares of the natural resource company’s stock valued at $362,000 after buying an additional 313 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FCX. JPMorgan Chase & Co. reduced their price target on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday. Bernstein Bank lifted their price target on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $41.00 to $48.50 in a report on Monday, January 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price target on shares of Freeport-McMoRan in a report on Thursday, January 25th. Finally, Scotiabank cut their price objective on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.77.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $48.24 on Thursday. The company has a quick ratio of 1.38, a current ratio of 2.35 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $44.02 and its two-hundred day moving average is $40.14. The company has a market cap of $69.20 billion, a P/E ratio of 42.69, a P/E/G ratio of 2.20 and a beta of 2.04. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.42.

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

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is presently 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.