Twin Capital Management Inc. Cuts Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Twin Capital Management Inc. trimmed its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,937 shares of the natural resource company’s stock after selling 1,232 shares during the quarter. Twin Capital Management Inc.’s holdings in Freeport-McMoRan were worth $2,083,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCX. FinTrust Capital Advisors LLC raised its position in shares of Freeport-McMoRan by 5.1% in the fourth quarter. FinTrust Capital Advisors LLC now owns 5,252 shares of the natural resource company’s stock valued at $200,000 after purchasing an additional 253 shares during the period. Fulton Bank N.A. grew its stake in Freeport-McMoRan by 2.6% in the 4th quarter. Fulton Bank N.A. now owns 10,606 shares of the natural resource company’s stock worth $451,000 after buying an additional 267 shares in the last quarter. Drive Wealth Management LLC grew its stake in Freeport-McMoRan by 2.8% in the 4th quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock worth $419,000 after buying an additional 267 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Freeport-McMoRan by 38.8% in the 4th quarter. Sound Income Strategies LLC now owns 965 shares of the natural resource company’s stock valued at $41,000 after purchasing an additional 270 shares in the last quarter. Finally, PFG Investments LLC boosted its stake in shares of Freeport-McMoRan by 1.7% in the 4th quarter. PFG Investments LLC now owns 16,844 shares of the natural resource company’s stock valued at $717,000 after purchasing an additional 285 shares in the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Up 0.7 %

Shares of NYSE FCX opened at $50.16 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.42. The firm has a market capitalization of $71.95 billion, a PE ratio of 39.50, a price-to-earnings-growth ratio of 2.25 and a beta of 2.04. The firm has a fifty day simple moving average of $43.32 and a two-hundred day simple moving average of $39.82.

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

Freeport-McMoRan Dividend Announcement

The firm also recently declared 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 is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. Freeport-McMoRan’s payout ratio is 23.62%.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on shares of Freeport-McMoRan from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $41.00 to $48.50 in a research note on Monday, January 8th. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Tuesday, April 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Finally, Raymond James upped their price objective on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.54.

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.