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

Signaturefd LLC decreased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCX. Asset Planning Inc purchased a new stake in shares of Freeport-McMoRan in the fourth quarter valued at $25,000. Vision Financial Markets LLC purchased a new stake in shares of Freeport-McMoRan in the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC grew its position in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Freeport-McMoRan in the fourth quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.8 %

Shares of FCX opened at $39.82 on Wednesday. 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 Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The stock’s 50-day moving average is $37.97 and its two-hundred day moving average is $42.01. The stock has a market cap of $57.23 billion, a PE ratio of 30.87, a P/E/G ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS 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%. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on FCX. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.