Trivium Point Advisory LLC Lowers Holdings in Freeport-McMoRan Inc. $FCX

Trivium Point Advisory LLC lowered its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 90.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,056 shares of the natural resource company’s stock after selling 75,388 shares during the period. Trivium Point Advisory LLC’s holdings in Freeport-McMoRan were worth $316,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Freeport-McMoRan during the third quarter valued at approximately $25,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Freeport-McMoRan during the second quarter worth $28,000. Salomon & Ludwin LLC grew its stake in Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 687 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Freeport-McMoRan in the 3rd quarter valued at $36,000. Finally, Proffitt & Goodson Inc. increased its holdings in Freeport-McMoRan by 39.8% in the 3rd quarter. Proffitt & Goodson Inc. now owns 977 shares of the natural resource company’s stock valued at $38,000 after acquiring an additional 278 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. CICC Research increased their price objective 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. BNP Paribas Exane upped their price objective on Freeport-McMoRan from $56.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research report on Wednesday, November 26th. Wall Street Zen lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Finally, UBS Group upped their price target on shares of Freeport-McMoRan from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.59.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $68.03 on Monday. The firm has a market capitalization of $97.77 billion, a PE ratio of 45.05, a PEG ratio of 0.79 and a beta of 1.41. The stock’s fifty day moving average is $59.55 and its 200 day moving average is $48.60. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $69.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29.

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

Freeport-McMoRan Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Thursday, January 15th. Freeport-McMoRan’s payout ratio is 19.87%.

Insider Activity

In other news, CAO Stephen T. Higgins sold 29,654 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $63.00, for a total value of $1,868,202.00. Following the sale, the chief accounting officer directly owned 76,445 shares in the company, valued at approximately $4,816,035. This represents a 27.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Maree E. Robertson sold 48,500 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $61.55, for a total value of $2,985,175.00. Following the sale, the chief financial officer directly owned 79,894 shares of the company’s stock, valued at $4,917,475.70. This represents a 37.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 603,140 shares of company stock valued at $37,660,139. 0.79% of the stock is currently owned by corporate insiders.

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.