Sentry Investment Management LLC Decreases Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Sentry Investment Management LLC decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 14.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,245 shares of the natural resource company’s stock after selling 2,482 shares during the period. Sentry Investment Management LLC’s holdings in Freeport-McMoRan were worth $581,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the fourth quarter worth about $25,000. Laurel Wealth Advisors LLC grew its stake in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan during the 4th quarter worth approximately $28,000. Financial Life Planners acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $36,000. Finally, Continuum Advisory LLC boosted its stake in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

FCX has been the subject of a number of research analyst reports. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. BMO Capital Markets dropped their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Scotiabank reduced their price target on shares of 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. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price objective on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.46.

Freeport-McMoRan Price Performance

Shares of FCX opened at $37.11 on Tuesday. Freeport-McMoRan Inc. has a 12 month low of $34.89 and a 12 month high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock has a fifty day moving average price of $38.46 and a 200 day moving average price of $42.72. The company has a market cap of $53.33 billion, a P/E ratio of 28.77, a PEG ratio of 0.87 and a beta of 1.85.

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

About Freeport-McMoRan

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.