Quad Cities Investment Group LLC decreased its holdings in Freeport-McMoRan Inc (NYSE:FCX) by 13.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,400 shares of the natural resource company’s stock after selling 2,100 shares during the period. Quad Cities Investment Group LLC’s holdings in Freeport-McMoRan were worth $173,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in FCX. Vanguard Group Inc boosted its stake in shares of Freeport-McMoRan by 3.6% in the 3rd quarter. Vanguard Group Inc now owns 154,818,850 shares of the natural resource company’s stock valued at $2,155,078,000 after purchasing an additional 5,375,340 shares in the last quarter. Vanguard Group Inc. boosted its position in Freeport-McMoRan by 3.6% during the 3rd quarter. Vanguard Group Inc. now owns 154,818,850 shares of the natural resource company’s stock valued at $2,155,078,000 after buying an additional 5,375,340 shares during the period. Hexavest Inc. purchased a new stake in Freeport-McMoRan during the 1st quarter valued at $64,964,000. Oregon Public Employees Retirement Fund boosted its position in Freeport-McMoRan by 896.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,109,615 shares of the natural resource company’s stock valued at $496,000 after buying an additional 4,596,738 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its position in Freeport-McMoRan by 181,362.5% during the 4th quarter. Brandywine Global Investment Management LLC now owns 3,215,516 shares of the natural resource company’s stock valued at $33,152,000 after buying an additional 3,213,744 shares during the period. 70.76% of the stock is owned by institutional investors.
NYSE:FCX traded up $0.42 on Wednesday, reaching $14.58. 320,823 shares of the stock traded hands, compared to its average volume of 17,085,170. The firm has a market cap of $21.08 billion, a P/E ratio of 9.57 and a beta of 2.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.79 and a current ratio of 3.22. Freeport-McMoRan Inc has a 12 month low of $9.60 and a 12 month high of $19.70.
Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 24th. The natural resource company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.86 billion. Freeport-McMoRan had a net margin of 12.12% and a return on equity of 15.77%. The firm’s revenue for the quarter was down 26.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, equities research analysts predict that Freeport-McMoRan Inc will post 0.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s payout ratio is presently 13.16%.
Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Monday, April 8th. UBS Group set a $14.00 price target on shares of Freeport-McMoRan and gave the company a “hold” rating in a research report on Friday, April 5th. Barclays increased their price target on shares of Freeport-McMoRan from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Tuesday, April 9th. Morgan Stanley lowered shares of Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a report on Wednesday, February 13th. Finally, Citigroup upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $16.00 in a report on Tuesday, February 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.57.
In other news, VP C Donald Whitmire, Jr. sold 7,425 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $11.58, for a total transaction of $85,981.50. Following the sale, the vice president now owns 67,974 shares of the company’s stock, valued at approximately $787,138.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.05% of the company’s stock.
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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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