Cypress Wealth Services LLC Reduces Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Cypress Wealth Services LLC decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,741 shares of the natural resource company’s stock after selling 442 shares during the quarter. Cypress Wealth Services LLC’s holdings in Freeport-McMoRan were worth $219,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Matrix Trust Co acquired a new stake in Freeport-McMoRan during the 3rd quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Freeport-McMoRan during the second quarter worth $27,000. Laurel Wealth Advisors LLC lifted its position in Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the period. Godsey & Gibb Inc. boosted its holdings in Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares during the last quarter. Finally, Continuum Advisory LLC raised its stake in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after buying an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research note on Thursday. Raymond James raised their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group decreased their price objective on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $52.42.

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $40.27 on Friday. The stock has a market capitalization of $57.86 billion, a P/E ratio of 29.39, a PEG ratio of 2.13 and a beta of 1.87. The business has a 50 day simple moving average of $41.25 and a two-hundred day simple moving average of $44.34. Freeport-McMoRan Inc. has a 12 month low of $36.26 and a 12 month high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the prior year, the company earned $0.39 EPS. The firm’s revenue was up 16.6% compared to the same quarter last year. As a group, analysts predict that Freeport-McMoRan Inc. will post 1.46 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, January 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. Freeport-McMoRan’s payout ratio is presently 21.90%.

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.