Groupama Asset Managment Lowers Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Groupama Asset Managment reduced its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,749 shares of the natural resource company’s stock after selling 4,379 shares during the period. Groupama Asset Managment’s holdings in Freeport-McMoRan were worth $2,280,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Continuum Advisory LLC raised its stake in shares of Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after acquiring an additional 236 shares in the last quarter. PFG Investments LLC increased its holdings in Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after purchasing an additional 283 shares during the period. Palogic Value Management L.P. raised its position in Freeport-McMoRan by 1.5% in the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock valued at $772,000 after purchasing an additional 292 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of Freeport-McMoRan by 1.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock valued at $727,000 after buying an additional 307 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of Freeport-McMoRan by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company’s stock worth $1,451,000 after buying an additional 309 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

FCX stock opened at $38.09 on Wednesday. The business has a 50 day simple moving average of $38.05 and a 200-day simple moving average of $41.92. The company has a market capitalization of $54.74 billion, a P/E ratio of 29.53, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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%. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Analyst Ratings Changes

A number of research analysts recently issued reports on FCX shares. BMO Capital Markets decreased their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company 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. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, March 6th. Finally, Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Company 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.