Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Barometer Capital Management Inc.

Barometer Capital Management Inc. lessened its stake in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 48,220 shares of the natural resource company’s stock after selling 700 shares during the quarter. Barometer Capital Management Inc.’s holdings in Freeport-McMoRan were worth $1,791,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mystic Asset Management Inc. increased its holdings in shares of Freeport-McMoRan by 2.4% in the 2nd quarter. Mystic Asset Management Inc. now owns 10,650 shares of the natural resource company’s stock valued at $426,000 after acquiring an additional 250 shares during the last quarter. Cape ANN Savings Bank increased its holdings in shares of Freeport-McMoRan by 1.6% in the 2nd quarter. Cape ANN Savings Bank now owns 15,588 shares of the natural resource company’s stock valued at $624,000 after acquiring an additional 250 shares during the last quarter. FinTrust Capital Advisors LLC boosted its position in Freeport-McMoRan by 5.1% during the 4th 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. Sheaff Brock Investment Advisors LLC boosted its position in Freeport-McMoRan by 2.2% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 11,861 shares of the natural resource company’s stock valued at $474,000 after purchasing an additional 255 shares during the period. Finally, Granite Investment Partners LLC boosted its position in Freeport-McMoRan by 2.2% during the 2nd quarter. Granite Investment Partners LLC now owns 12,173 shares of the natural resource company’s stock valued at $487,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 77.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating for the company in a research report on Thursday, December 7th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $41.00 to $48.50 in a research report on Monday, January 8th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, JPMorgan Chase & Co. began coverage on Freeport-McMoRan in a research report on Tuesday, October 17th. They set a “neutral” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.95.

Read Our Latest Stock Report on FCX

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock traded down $2.04 during trading on Monday, hitting $38.06. The stock had a trading volume of 3,483,579 shares, compared to its average volume of 12,197,610. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. The firm has a market cap of $54.58 billion, a P/E ratio of 31.57 and a beta of 2.06. The business has a fifty day moving average of $40.00 and a two-hundred day moving average of $38.81. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $44.70.

Freeport-McMoRan (NYSE:FCXGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, beating 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 return on equity of 8.41% and a net margin of 8.09%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.54 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Friday, January 12th were issued a $0.15 dividend. The ex-dividend date was Thursday, January 11th. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. Freeport-McMoRan’s dividend payout ratio (DPR) is 23.62%.

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. 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.

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

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