Sumitomo Mitsui Trust Holdings Inc. Has $134.29 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,601,292 shares of the natural resource company’s stock after selling 51,473 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.25% of Freeport-McMoRan worth $134,292,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its position in shares of Freeport-McMoRan by 1.4% during the 2nd quarter. State Street Corp now owns 63,242,717 shares of the natural resource company’s stock worth $2,529,709,000 after buying an additional 887,136 shares during the last quarter. Capital Research Global Investors boosted its holdings in Freeport-McMoRan by 6.5% in the second quarter. Capital Research Global Investors now owns 59,495,524 shares of the natural resource company’s stock worth $2,379,818,000 after acquiring an additional 3,630,991 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Freeport-McMoRan by 1.7% in the second quarter. Fisher Asset Management LLC now owns 54,842,377 shares of the natural resource company’s stock worth $2,193,695,000 after acquiring an additional 895,617 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Freeport-McMoRan by 2.5% in the second quarter. Geode Capital Management LLC now owns 25,980,753 shares of the natural resource company’s stock valued at $1,036,045,000 after purchasing an additional 642,288 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Freeport-McMoRan by 7.8% during the second quarter. Bank of New York Mellon Corp now owns 21,659,892 shares of the natural resource company’s stock worth $866,396,000 after acquiring an additional 1,574,761 shares during the period. 77.96% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $40.95 on Friday. The business’s fifty day simple moving average is $38.81 and its 200-day simple moving average is $38.90. The company has a market cap of $58.72 billion, a PE ratio of 27.67 and a beta of 2.05. The company has a current ratio of 2.90, a quick ratio of 1.67 and a debt-to-equity ratio of 0.35. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $46.73.

Freeport-McMoRan (NYSE:FCXGet Free Report) last issued its quarterly earnings results on Thursday, October 19th. The natural resource company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. Freeport-McMoRan had a return on equity of 9.98% and a net margin of 9.50%. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. Analysts expect that Freeport-McMoRan Inc. will post 1.52 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Friday, January 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, January 11th. Freeport-McMoRan’s payout ratio is 20.27%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FCX shares. Raymond James lifted their price target on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. BMO Capital Markets lowered their target price on Freeport-McMoRan from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 20th. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $41.00 to $48.50 in a report on Monday, January 8th. Eight Capital set a $55.00 price objective on Freeport-McMoRan and gave the company a “buy” rating in a research report on Wednesday, December 6th. Finally, UBS Group reduced their target price on Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Hold” and a consensus price target of $44.38.

Check Out Our Latest Analysis on FCX

Freeport-McMoRan Profile

(Free Report)

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, as well as oil and gas. The company's 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.

See Also

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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