Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Sandy Spring Bank

Sandy Spring Bank decreased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 14.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,795 shares of the natural resource company’s stock after selling 827 shares during the quarter. Sandy Spring Bank’s holdings in Freeport-McMoRan were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FinTrust Capital Advisors LLC grew its holdings in shares of 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 worth $200,000 after purchasing an additional 253 shares during the period. Fulton Bank N.A. raised its stake in shares of 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 valued at $451,000 after acquiring an additional 267 shares during the period. Drive Wealth Management LLC raised its stake in shares of 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 valued at $419,000 after acquiring an additional 267 shares during the period. Sound Income Strategies LLC lifted its holdings 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 worth $41,000 after acquiring an additional 270 shares during the last quarter. Finally, PFG Investments LLC boosted its position in shares of Freeport-McMoRan by 1.7% during the 4th quarter. PFG Investments LLC now owns 16,844 shares of the natural resource company’s stock worth $717,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FCX. Scotiabank upped their price target on Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. Raymond James raised their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $48.50 in a research report on Monday, January 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.71.

View Our Latest Research Report on FCX

Freeport-McMoRan Price Performance

Shares of FCX opened at $49.48 on Friday. The firm has a market capitalization of $70.97 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 2.29 and a beta of 2.04. The firm’s fifty day simple moving average is $42.46 and its 200-day simple moving average is $39.46. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $52.42. 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 (NYSE:FCXGet Free Report) last posted its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $5.91 billion for 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%. Freeport-McMoRan’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.6 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s payout ratio 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; 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.

Further Reading

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoRan Inc. (NYSE:FCXFree Report).

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

Receive News & Ratings for Freeport-McMoRan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Freeport-McMoRan and related companies with MarketBeat.com's FREE daily email newsletter.