Hollencrest Capital Management Sells 451 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Hollencrest Capital Management decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,883 shares of the natural resource company’s stock after selling 451 shares during the period. Hollencrest Capital Management’s holdings in Freeport-McMoRan were worth $1,709,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Asset Planning Inc bought a new position in Freeport-McMoRan during the 4th quarter worth $25,000. Vision Financial Markets LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter worth $27,000. Laurel Wealth Advisors LLC increased its position in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the period. Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter worth $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter worth $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $35.88 on Wednesday. The business’s 50-day moving average price is $37.94 and its 200-day moving average price is $42.22. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The firm has a market capitalization of $51.55 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 0.87 and a beta of 1.87. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on FCX shares. JPMorgan Chase & Co. decreased their price target 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. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday. Scotiabank decreased their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research 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 on the stock in a research note on Friday, January 24th. Finally, Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.