Capital International Ltd. CA Lowers Position in Freeport-McMoRan Inc. $FCX

Capital International Ltd. CA reduced its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 16.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 154,502 shares of the natural resource company’s stock after selling 30,206 shares during the quarter. Capital International Ltd. CA’s holdings in Freeport-McMoRan were worth $7,847,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Modus Advisors LLC purchased a new stake in Freeport-McMoRan in the 4th quarter valued at $40,000. Valtrion Capital Management LLC purchased a new stake in Freeport-McMoRan in the 4th quarter valued at $296,000. XML Financial LLC purchased a new stake in Freeport-McMoRan in the 4th quarter valued at $247,000. Havemeyer Place LP purchased a new stake in Freeport-McMoRan in the 4th quarter valued at $3,911,000. Finally, Lowe Brockenbrough & Co. Inc. purchased a new stake in Freeport-McMoRan in the 4th quarter valued at $249,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Down 9.1%

FCX stock opened at $63.37 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The company has a market capitalization of $91.10 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 0.76 and a beta of 1.35. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.09. The stock has a fifty day moving average of $63.48 and a 200-day moving average of $58.17.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.24 EPS. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is presently 15.96%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FCX. Stifel Nicolaus increased their price target on Freeport-McMoRan from $52.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. UBS Group raised their target price on Freeport-McMoRan from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Freedom Capital raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. HSBC raised their target price on Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Finally, Sanford C. Bernstein decreased their target price on Freeport-McMoRan from $54.00 to $53.50 and set a “market perform” rating for the company in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.04.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.