Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Fmr LLC

Fmr LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 26.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,055,475 shares of the natural resource company’s stock after selling 13,171,899 shares during the quarter. Fmr LLC owned about 2.58% of Freeport-McMoRan worth $1,411,072,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Asset Planning Inc purchased a new position in Freeport-McMoRan during the fourth quarter worth about $25,000. Mizuho Bank Ltd. purchased a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $27,000. Laurel Wealth Advisors LLC boosted its stake 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 buying an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the fourth quarter worth $28,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $29.14 on Monday. The company has a 50-day simple moving average of $37.75 and a 200-day simple moving average of $41.71. 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 company has a market cap of $41.88 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 12 month low of $27.25 and a 12 month high of $55.24.

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

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.06%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Raymond James boosted their price objective on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and lifted their price target for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Finally, BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.61.

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.