Patriot Financial Group Insurance Agency LLC Sells 359 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Patriot Financial Group Insurance Agency LLC reduced its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,614 shares of the natural resource company’s stock after selling 359 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Freeport-McMoRan were worth $442,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Matrix Trust Co bought a new stake in Freeport-McMoRan in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Freeport-McMoRan in the 2nd quarter valued at $27,000. Godsey & Gibb Inc. increased its holdings in Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 346 shares during the last quarter. Laurel Wealth Advisors LLC increased its holdings in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Freeport-McMoRan by 46.8% in 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 in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FCX shares. Jefferies Financial Group cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $48.00 to $40.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Raymond James lifted their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.46.

Freeport-McMoRan Trading Up 1.2 %

Shares of FCX opened at $36.28 on Thursday. Freeport-McMoRan Inc. has a 1-year low of $35.46 and a 1-year high of $55.24. The company has a 50-day moving average of $40.36 and a 200 day moving average of $43.58. The firm has a market capitalization of $52.14 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 2.39 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30.

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

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.