Freeport-McMoRan Inc (NYSE:FCX) shares traded down 5.8% during mid-day trading on Monday . The company traded as low as $10.54 and last traded at $10.71. 28,155,812 shares were traded during trading, an increase of 28% from the average session volume of 22,040,504 shares. The stock had previously closed at $11.37.

A number of research analysts recently issued reports on the company. Zacks Investment Research raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Monday, April 8th. UBS Group set a $14.00 target price on Freeport-McMoRan and gave the stock a “hold” rating in a report on Friday, April 5th. Barclays lifted their target price on Freeport-McMoRan from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Tuesday, April 9th. Raymond James reaffirmed a “market perform” rating and set a $14.00 target price on shares of Freeport-McMoRan in a report on Friday, April 26th. Finally, BMO Capital Markets set a $14.00 price target on Freeport-McMoRan and gave the stock a “hold” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.01.

The company has a market capitalization of $15.72 billion, a price-to-earnings ratio of 7.14 and a beta of 2.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.79 and a quick ratio of 1.41.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, April 25th. The natural resource company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Freeport-McMoRan had a return on equity of 10.31% and a net margin of 9.09%. The company’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. As a group, sell-side analysts anticipate that Freeport-McMoRan Inc will post 0.46 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.20 annualized dividend and a yield of 1.84%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 13.16%.

A number of large investors have recently added to or reduced their stakes in the business. Coastal Investment Advisors Inc. purchased a new position in Freeport-McMoRan during the 1st quarter valued at about $39,000. Utah Retirement Systems grew its stake in Freeport-McMoRan by 1.4% during the 1st quarter. Utah Retirement Systems now owns 273,292 shares of the natural resource company’s stock valued at $3,522,000 after acquiring an additional 3,666 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in Freeport-McMoRan during the 1st quarter valued at about $4,339,000. National Pension Service grew its stake in Freeport-McMoRan by 3.7% during the 1st quarter. National Pension Service now owns 1,803,701 shares of the natural resource company’s stock valued at $23,250,000 after acquiring an additional 64,091 shares in the last quarter. Finally, SCP Investment LP purchased a new position in Freeport-McMoRan during the 1st quarter valued at about $1,547,000. 70.38% of the stock is currently owned by institutional investors.

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Freeport-McMoRan Company Profile (NYSE:FCX)

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

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