Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,149 shares of the natural resource company’s stock after selling 4,694 shares during the quarter. Flputnam Investment Management Co.’s holdings in Freeport-McMoRan were worth $5,200,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CM Management LLC raised its position in Freeport-McMoRan by 80.0% in the third quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock worth $1,342,000 after acquiring an additional 16,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Freeport-McMoRan by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock worth $279,977,000 after acquiring an additional 102,466 shares in the last quarter. Cadinha & Co. LLC raised its position in Freeport-McMoRan by 59.0% in the fourth quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock worth $27,572,000 after acquiring an additional 240,340 shares in the last quarter. Alphinity Investment Management Pty Ltd raised its position in Freeport-McMoRan by 57.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock worth $201,039,000 after acquiring an additional 1,965,987 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its position in Freeport-McMoRan by 6.4% in the fourth quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after acquiring an additional 20,894 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock traded down $1.31 during trading hours on Tuesday, reaching $48.71. 4,033,716 shares of the company’s stock were exchanged, compared to its average volume of 13,446,936. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $52.42. The stock has a market capitalization of $69.87 billion, a P/E ratio of 39.39, a P/E/G ratio of 2.24 and a beta of 2.04. The business has a fifty day moving average price of $42.69 and a 200-day moving average price of $39.59. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts predict that Freeport-McMoRan Inc. will post 1.6 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. Freeport-McMoRan’s payout ratio is 23.62%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $41.00 to $48.50 in a report on Monday, January 8th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a report on Thursday, January 25th. Raymond James boosted their price objective on Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, April 9th. Finally, Scotiabank lifted their target price on Freeport-McMoRan from $48.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Hold” and a consensus target price of $46.71.

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.