Sfmg LLC lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX – Get Rating) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,735 shares of the natural resource company’s stock after selling 477 shares during the period. Sfmg LLC’s holdings in Freeport-McMoRan were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also made changes to their positions in FCX. Stonnington Group LLC bought a new position in Freeport-McMoRan during the fourth quarter valued at $2,814,000. State of Alaska Department of Revenue increased its position in Freeport-McMoRan by 2.3% during the fourth quarter. State of Alaska Department of Revenue now owns 261,300 shares of the natural resource company’s stock valued at $10,903,000 after acquiring an additional 5,950 shares during the last quarter. First Hawaiian Bank increased its position in Freeport-McMoRan by 79.1% during the fourth quarter. First Hawaiian Bank now owns 58,837 shares of the natural resource company’s stock valued at $2,455,000 after acquiring an additional 25,986 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at $330,000. Finally, Moody National Bank Trust Division boosted its stake in shares of Freeport-McMoRan by 2.7% during the fourth quarter. Moody National Bank Trust Division now owns 24,689 shares of the natural resource company’s stock valued at $1,030,000 after purchasing an additional 644 shares during the period. Institutional investors own 77.37% of the company’s stock.
In related news, Director Hugh Grant acquired 12,300 shares of the business’s stock in a transaction dated Monday, April 25th. The shares were purchased at an average price of $40.75 per share, for a total transaction of $501,225.00. Following the completion of the acquisition, the director now directly owns 15,776 shares in the company, valued at approximately $642,872. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dustan E. McCoy sold 8,200 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $39.24, for a total transaction of $321,768.00. Following the transaction, the director now owns 134,400 shares in the company, valued at approximately $5,273,856. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.
Shares of Freeport-McMoRan stock opened at $29.20 on Monday. The company has a market capitalization of $42.32 billion, a PE ratio of 8.46, a P/E/G ratio of 0.26 and a beta of 2.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.68 and a current ratio of 2.37. The company has a 50-day simple moving average of $37.11 and a two-hundred day simple moving average of $41.98. Freeport-McMoRan Inc. has a one year low of $27.92 and a one year high of $51.99.
Freeport-McMoRan (NYSE:FCX – Get Rating) last announced its earnings results on Thursday, April 21st. The natural resource company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.19. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.29 billion. Freeport-McMoRan had a net margin of 20.79% and a return on equity of 24.06%. The firm’s revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. On average, equities analysts predict that Freeport-McMoRan Inc. will post 3.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $0.60 annualized dividend and a dividend yield of 2.05%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 8.70%.
A number of analysts have recently issued reports on the stock. Raymond James set a $59.00 target price on shares of Freeport-McMoRan and gave the company an “outperform” rating in a research note on Friday, April 22nd. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Tuesday, April 5th. Jefferies Financial Group raised their price objective on shares of Freeport-McMoRan from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, March 24th. Clarkson Capital reaffirmed a “neutral” rating on shares of Freeport-McMoRan in a research note on Tuesday, June 14th. Finally, BNP Paribas lowered shares of Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Hold” and a consensus price target of $46.62.
Freeport-McMoRan Company Profile (Get Rating)
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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