Canandaigua National Bank & Trust Co. lessened its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 13.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 116,214 shares of the natural resource company’s stock after selling 18,031 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Freeport-McMoRan were worth $2,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Freeport-McMoRan by 18.1% in the third quarter. Bank of New York Mellon Corp now owns 24,292,902 shares of the natural resource company’s stock valued at $341,073,000 after purchasing an additional 3,724,271 shares during the last quarter. Oakmont Corp purchased a new position in Freeport-McMoRan in the third quarter valued at approximately $41,553,000. Contrarius Investment Management Ltd lifted its stake in Freeport-McMoRan by 74.3% in the third quarter. Contrarius Investment Management Ltd now owns 6,176,460 shares of the natural resource company’s stock valued at $86,717,000 after purchasing an additional 2,633,409 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Freeport-McMoRan by 141.7% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,152,745 shares of the natural resource company’s stock valued at $78,736,000 after purchasing an additional 2,434,376 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. lifted its stake in Freeport-McMoRan by 522.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 2,554,280 shares of the natural resource company’s stock valued at $35,861,000 after purchasing an additional 2,144,008 shares during the last quarter. Hedge funds and other institutional investors own 68.21% of the company’s stock.

Several equities analysts recently commented on FCX shares. Clarkson Capital upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 17th. Zacks Investment Research upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, November 14th. FBR & Co reiterated a “hold” rating and issued a $12.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, October 26th. Deutsche Bank downgraded Freeport-McMoRan from a “hold” rating to a “sell” rating and set a $13.00 price objective on the stock. in a research note on Tuesday, October 17th. Finally, ValuEngine upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Freeport-McMoRan presently has a consensus rating of “Hold” and a consensus target price of $16.13.

In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total transaction of $419,035.00. Following the sale, the vice president now owns 70,239 shares in the company, valued at $1,368,958.11. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.29% of the company’s stock.

Shares of Freeport-McMoRan Inc (NYSE FCX) opened at $17.86 on Thursday. The stock has a market capitalization of $25,850.00, a price-to-earnings ratio of 14.88 and a beta of 2.48. Freeport-McMoRan Inc has a 12-month low of $11.05 and a 12-month high of $20.25. The company has a current ratio of 2.14, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 25th. The natural resource company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.89 billion. Freeport-McMoRan had a return on equity of 16.57% and a net margin of 11.08%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 earnings per share. sell-side analysts forecast that Freeport-McMoRan Inc will post 2 EPS for the current year.

WARNING: This story was originally posted by Daily Political and is the property of of Daily Political. If you are reading this story on another site, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.dailypolitical.com/2018/02/08/freeport-mcmoran-inc-fcx-shares-sold-by-canandaigua-national-bank-trust-co.html.

About Freeport-McMoRan

Freeport-McMoRan Inc (FCX) is a mining company. The Company operates through geographical assets with proven and probable reserves of copper, gold and molybdenum, and traded copper producer. The Company’s segments include refined copper products, copper in concentrate, gold, molybdenum, oil and other.

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoRan Inc (NYSE:FCX).

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.