Avior Wealth Management LLC Has $3.54 Million Stock Holdings in Freeport-McMoRan Inc. $FCX

Avior Wealth Management LLC grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 857.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,757 shares of the natural resource company’s stock after purchasing an additional 62,471 shares during the period. Avior Wealth Management LLC’s holdings in Freeport-McMoRan were worth $3,543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after purchasing an additional 2,882 shares during the last quarter. Bison Wealth LLC grew its position in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after purchasing an additional 507 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Freeport-McMoRan during the 2nd quarter worth about $560,000. Boston Partners raised its position in shares of Freeport-McMoRan by 14.9% during the second quarter. Boston Partners now owns 5,542,388 shares of the natural resource company’s stock valued at $240,230,000 after buying an additional 716,770 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Freeport-McMoRan by 40.1% during the second quarter. Intech Investment Management LLC now owns 25,184 shares of the natural resource company’s stock valued at $1,092,000 after buying an additional 7,211 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 3.0%

NYSE FCX opened at $52.02 on Friday. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $69.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.29 and a quick ratio of 1.05. The firm has a market cap of $74.77 billion, a P/E ratio of 34.45, a P/E/G ratio of 0.63 and a beta of 1.41. The stock’s 50-day moving average is $61.67 and its 200-day moving average is $50.28.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.19. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.42 billion. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.Freeport-McMoRan’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FCX has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Freeport-McMoRan from $55.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. CICC Research lifted their price target on shares of Freeport-McMoRan from $50.40 to $64.40 and gave the company an “outperform” rating in a report on Monday, January 26th. UBS Group upped their price objective on shares of Freeport-McMoRan from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Citigroup increased their target price on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, Stifel Nicolaus upped their price target on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $62.59.

Insider Buying and Selling

In related news, EVP Douglas N. Currault II sold 75,000 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $64.52, for a total value of $4,839,000.00. Following the completion of the transaction, the executive vice president owned 219,181 shares of the company’s stock, valued at approximately $14,141,558.12. This trade represents a 25.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Ellie L. Mikes sold 11,000 shares of Freeport-McMoRan stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total value of $682,330.00. Following the completion of the sale, the chief accounting officer directly owned 40,773 shares in the company, valued at approximately $2,529,149.19. This represents a 21.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 565,145 shares of company stock valued at $35,839,918 over the last ninety days. Insiders own 0.75% of the company’s stock.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.