Level Four Advisory Services LLC Has $742,000 Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Level Four Advisory Services LLC lowered its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.1% in the 4th quarter, HoldingsChannel reports. The firm owned 19,475 shares of the natural resource company’s stock after selling 626 shares during the period. Level Four Advisory Services LLC’s holdings in Freeport-McMoRan were worth $742,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in shares of Freeport-McMoRan by 9.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company’s stock worth $8,219,000 after buying an additional 14,501 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Freeport-McMoRan in the third quarter worth $754,000. Madison Investment Advisors LLC bought a new stake in Freeport-McMoRan in the fourth quarter valued at $3,388,000. Principal Financial Group Inc. raised its holdings in shares of Freeport-McMoRan by 4.1% during the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock valued at $84,085,000 after purchasing an additional 66,699 shares during the period. Finally, Czech National Bank boosted its position in shares of Freeport-McMoRan by 6.4% during the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock worth $11,864,000 after purchasing an additional 18,852 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

FCX stock opened at $38.36 on Monday. The business has a 50 day moving average of $38.14 and a 200-day moving average of $41.98. The firm has a market cap of $55.13 billion, a PE ratio of 29.74, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. As a group, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s payout ratio is 23.26%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on FCX shares. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Scotiabank lowered their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. BMO Capital Markets reduced their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $48.00 to $52.00 in a report on Thursday, March 20th. Finally, Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Profile

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.