Cerity Partners LLC Has $6.56 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Cerity Partners LLC trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 172,139 shares of the natural resource company’s stock after selling 3,963 shares during the period. Cerity Partners LLC’s holdings in Freeport-McMoRan were worth $6,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FCX. Orion Portfolio Solutions LLC boosted its position in Freeport-McMoRan by 22.5% during the third quarter. Orion Portfolio Solutions LLC now owns 41,404 shares of the natural resource company’s stock worth $2,067,000 after purchasing an additional 7,615 shares during the period. Continuum Advisory LLC lifted 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 worth $37,000 after buying an additional 236 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Freeport-McMoRan by 4.8% during the 3rd quarter. M&T Bank Corp now owns 107,184 shares of the natural resource company’s stock worth $5,351,000 after buying an additional 4,861 shares during the period. Arete Wealth Advisors LLC grew its stake in Freeport-McMoRan by 5.9% in the 3rd quarter. Arete Wealth Advisors LLC now owns 12,042 shares of the natural resource company’s stock valued at $598,000 after buying an additional 674 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its position in Freeport-McMoRan by 33.0% during the third quarter. Westside Investment Management Inc. now owns 7,867 shares of the natural resource company’s stock worth $373,000 after acquiring an additional 1,950 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Trading Up 6.4 %

Shares of FCX opened at $33.36 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $55.24. The firm has a market cap of $47.94 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 0.87 and a beta of 1.71. The business’s fifty day moving average is $37.10 and its 200-day moving average is $41.06.

Freeport-McMoRan (NYSE:FCX) last released its earnings results 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%. Equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is 23.26%.

Analyst Upgrades and Downgrades

FCX has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Raymond James boosted their target price on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, April 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, March 6th. Finally, StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $49.88.

About Freeport-McMoRan

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.