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

Perigon Wealth Management LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,162 shares of the natural resource company’s stock after selling 788 shares during the period. Perigon Wealth Management LLC’s holdings in Freeport-McMoRan were worth $2,969,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Fisher Asset Management LLC grew its holdings in Freeport-McMoRan by 2.4% during the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after acquiring an additional 1,392,494 shares during the period. Geode Capital Management LLC grew its stake in shares of Freeport-McMoRan by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock worth $1,436,455,000 after purchasing an additional 529,099 shares during the period. Franklin Resources Inc. increased its holdings in shares of Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after purchasing an additional 2,366,187 shares in the last quarter. Mountaineer Partners Management LLC lifted its stake in shares of Freeport-McMoRan by 4,767.8% in the third quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock valued at $595,702,000 after purchasing an additional 11,687,982 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Freeport-McMoRan by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company’s stock worth $410,494,000 after buying an additional 127,251 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

FCX stock opened at $35.80 on Wednesday. The company has a market cap of $51.45 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.39 and a beta of 1.87. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $40.51 and a two-hundred day moving average price of $43.64. Freeport-McMoRan Inc. has a 12-month low of $35.46 and a 12-month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. As a group, research analysts predict that Freeport-McMoRan Inc. will post 1.42 EPS for the current year.

Analyst Ratings Changes

FCX has been the subject of a number of research analyst reports. Scotiabank dropped their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. BMO Capital Markets reduced their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Raymond James raised their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus target price of $51.46.

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.