Cadinha & Co. LLC Sells 5,605 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Cadinha & Co. LLC decreased its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 464,122 shares of the natural resource company’s stock after selling 5,605 shares during the period. Freeport-McMoRan comprises about 2.9% of Cadinha & Co. LLC’s holdings, making the stock its 18th largest holding. Cadinha & Co. LLC’s holdings in Freeport-McMoRan were worth $17,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Matrix Trust Co bought a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Freeport-McMoRan in the 2nd quarter worth about $27,000. Godsey & Gibb Inc. raised its position in Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Laurel Wealth Advisors LLC boosted its stake in shares of Freeport-McMoRan by 487.8% during the fourth 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. Finally, Continuum Advisory LLC grew its holdings in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.6 %

Shares of FCX stock opened at $40.27 on Friday. Freeport-McMoRan Inc. has a fifty-two week low of $36.26 and a fifty-two week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The stock has a 50 day simple moving average of $41.25 and a two-hundred day simple moving average of $44.31. The company has a market cap of $57.86 billion, a P/E ratio of 29.39, a PEG ratio of 2.13 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. Freeport-McMoRan’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. Research analysts forecast that Freeport-McMoRan Inc. will post 1.46 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.90%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FCX shares. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Scotiabank lowered their target price on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, January 6th. Finally, Raymond James upped their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.42.

Freeport-McMoRan 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.