Mosaic Financial Group LLC Decreases Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Mosaic Financial Group LLC trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 19.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,622 shares of the natural resource company’s stock after selling 2,300 shares during the period. Mosaic Financial Group LLC’s holdings in Freeport-McMoRan were worth $366,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of FCX. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth about $25,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC lifted 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 valued at $28,000 after acquiring an additional 600 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of research reports. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price objective for the company from $40.00 to $48.00 in a report on Thursday, February 27th. BMO Capital Markets lowered their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Monday. Finally, Scotiabank cut their price target on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $37.85 on Tuesday. The firm has a market cap of $54.39 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The business’s fifty day simple moving average is $38.09 and its 200-day simple moving average is $41.95.

Freeport-McMoRan (NYSE:FCX) last posted its 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 analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.59%. Freeport-McMoRan’s payout ratio is currently 23.26%.

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.