Freeport-McMoRan Inc. $FCX Shares Sold by 180 Wealth Advisors LLC

180 Wealth Advisors LLC lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 31.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,882 shares of the natural resource company’s stock after selling 22,303 shares during the period. 180 Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $2,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Steigerwald Gordon & Koch Inc. acquired a new position in Freeport-McMoRan in the third quarter valued at $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Freeport-McMoRan during the second quarter worth about $28,000. Salomon & Ludwin LLC grew its holdings in shares of Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock worth $29,000 after buying an additional 687 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Freeport-McMoRan during the third quarter worth about $33,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Freeport-McMoRan in the 3rd quarter valued at about $36,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $52.02 on Monday. The stock has a fifty day moving average price of $61.67 and a 200 day moving average price of $50.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29. The stock has a market cap of $74.77 billion, a PE ratio of 34.45, a P/E/G ratio of 0.61 and a beta of 1.41. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $69.75.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.19. The company had revenue of $5.63 billion for 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 revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on FCX. Citigroup increased their price objective on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Bank of America upped their price target on Freeport-McMoRan from $68.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freeport-McMoRan in a report on Thursday, January 22nd. HSBC lifted their price objective on shares of Freeport-McMoRan from $48.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, BNP Paribas Exane upped their price objective on shares of Freeport-McMoRan from $56.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.59.

Insider Activity

In other news, EVP Douglas N. Currault II sold 75,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 219,181 shares in the company, valued at $14,141,558.12. This 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 available through the SEC website. Also, CAO Stephen T. Higgins sold 29,654 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the transaction, the chief accounting officer directly owned 76,445 shares of the company’s stock, valued at approximately $4,816,035. This trade represents a 27.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 565,145 shares of company stock worth $35,839,918 in the last three months. Company insiders own 0.79% 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.