Mitsubishi UFJ Trust & Banking Corp Sells 12,099 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 647,971 shares of the natural resource company’s stock after selling 12,099 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Freeport-McMoRan were worth $24,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Freeport-McMoRan by 240.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock valued at $3,994,000 after acquiring an additional 56,475 shares in the last quarter. Great Valley Advisor Group Inc. bought a new position in Freeport-McMoRan in the 3rd quarter worth $282,000. Larson Financial Group LLC lifted its position in shares of Freeport-McMoRan by 14.6% in the 3rd quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after purchasing an additional 287 shares during the period. Independent Advisor Alliance boosted its stake in shares of Freeport-McMoRan by 5.5% during the 3rd quarter. Independent Advisor Alliance now owns 14,418 shares of the natural resource company’s stock valued at $720,000 after purchasing an additional 746 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Freeport-McMoRan by 17.1% during the third quarter. Brown Brothers Harriman & Co. now owns 6,340 shares of the natural resource company’s stock valued at $316,000 after buying an additional 927 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

FCX has been the topic of several research reports. Scotiabank cut their price objective 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. Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, March 6th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Stock Down 3.6 %

Freeport-McMoRan stock opened at $39.99 on Friday. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The stock has a fifty day simple moving average of $38.18 and a two-hundred day simple moving average of $41.98. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm has a market cap of $57.47 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 0.87 and a beta of 1.87.

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

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

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.