Ensign Peak Advisors Inc Sells 10,947 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Ensign Peak Advisors Inc lowered its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 952,308 shares of the natural resource company’s stock after selling 10,947 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Freeport-McMoRan were worth $36,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FCX. Principal Financial Group Inc. increased its stake in Freeport-McMoRan by 4.1% during the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company’s stock worth $84,085,000 after acquiring an additional 66,699 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Freeport-McMoRan by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 160,920 shares of the natural resource company’s stock worth $6,128,000 after purchasing an additional 2,503 shares during the period. ORG Wealth Partners LLC increased its position in shares of Freeport-McMoRan by 26.0% during the 4th quarter. ORG Wealth Partners LLC now owns 3,259 shares of the natural resource company’s stock valued at $124,000 after purchasing an additional 673 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in Freeport-McMoRan by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 51,697 shares of the natural resource company’s stock valued at $1,969,000 after buying an additional 1,266 shares during the period. Finally, Czech National Bank lifted its position in Freeport-McMoRan by 6.4% in the fourth quarter. Czech National Bank now owns 311,555 shares of the natural resource company’s stock worth $11,864,000 after buying an additional 18,852 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Up 0.7 %

Shares of Freeport-McMoRan stock opened at $37.76 on Friday. 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 stock has a market cap 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 firm’s 50-day moving average is $36.29 and its two-hundred day moving average is $39.17. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $55.24.

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

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 24.79%.

Wall Street Analysts Forecast Growth

FCX has been the topic of several recent analyst reports. UBS Group reduced their target price on shares of Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Raymond James restated an “outperform” rating and set a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Finally, Wolfe Research upgraded Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $48.09.

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.