Bokf Na Cuts Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Bokf Na lessened its position in Freeport-McMoRan Inc. (NYSE:FCX) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,339 shares of the natural resource company’s stock after selling 2,084 shares during the period. Bokf Na’s holdings in Freeport-McMoRan were worth $403,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Asset Planning Inc purchased a new stake in Freeport-McMoRan during the 4th quarter valued at $25,000. Mizuho Bank Ltd. purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan in the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC lifted its stake in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares during the period. Finally, Roxbury Financial LLC purchased a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FCX shares. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Finally, StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.09.

Freeport-McMoRan Stock Up 0.7 %

Shares of FCX stock opened at $37.76 on Friday. The company has a market capitalization of $54.26 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 0.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The company’s fifty day moving average price is $36.29 and its 200-day moving average price is $39.23. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The business had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The business’s revenue was down 9.4% on a year-over-year basis. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were paid a $0.15 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.59%. Freeport-McMoRan’s payout ratio is 24.79%.

Freeport-McMoRan Company 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.