Freeport-McMoRan Inc. (NYSE:FCX) Holdings Decreased by Sentry Investment Management LLC

Sentry Investment Management LLC lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 14.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,245 shares of the natural resource company’s stock after selling 2,482 shares during the period. Sentry Investment Management LLC’s holdings in Freeport-McMoRan were worth $581,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Private Advisor Group LLC raised its holdings in Freeport-McMoRan by 1.1% during the third quarter. Private Advisor Group LLC now owns 77,315 shares of the natural resource company’s stock worth $3,860,000 after purchasing an additional 842 shares in the last quarter. Allworth Financial LP increased its position in shares of Freeport-McMoRan by 7.3% during the 3rd quarter. Allworth Financial LP now owns 7,336 shares of the natural resource company’s stock valued at $366,000 after purchasing an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Freeport-McMoRan by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 202,440 shares of the natural resource company’s stock worth $10,393,000 after buying an additional 35,972 shares in the last quarter. PFG Investments LLC raised its stake in shares of Freeport-McMoRan by 10.0% in the 3rd quarter. PFG Investments LLC now owns 22,627 shares of the natural resource company’s stock worth $1,130,000 after buying an additional 2,062 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Freeport-McMoRan by 1.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 158,417 shares of the natural resource company’s stock valued at $7,908,000 after buying an additional 2,322 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

FCX opened at $37.11 on Tuesday. The firm has a market capitalization of $53.33 billion, a P/E ratio of 28.77, a PEG ratio of 0.87 and a beta of 1.85. The stock has a fifty day moving average of $38.46 and a 200-day moving average of $42.72. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12-month low of $34.89 and a 12-month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on FCX. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price target for the stock from $48.00 to $40.00 in a research report on Friday, January 24th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets cut 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. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan 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.