Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by FWL Investment Management LLC

FWL Investment Management LLC lessened its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,158 shares of the natural resource company’s stock after selling 1,213 shares during the period. FWL Investment Management LLC’s holdings in Freeport-McMoRan were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Coppell Advisory Solutions LLC increased its position in shares of Freeport-McMoRan by 47.4% during the fourth quarter. Coppell Advisory Solutions LLC now owns 833 shares of the natural resource company’s stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. PFG Investments LLC raised its position in Freeport-McMoRan by 1.3% in the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock valued at $872,000 after purchasing an additional 283 shares during the period. Palogic Value Management L.P. lifted its stake in Freeport-McMoRan by 1.5% during the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock worth $772,000 after purchasing an additional 292 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Freeport-McMoRan by 1.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock valued at $727,000 after buying an additional 307 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in Freeport-McMoRan by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company’s stock worth $1,451,000 after acquiring an additional 309 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FCX shares. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. BMO Capital Markets cut their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. UBS Group reduced their price target on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Raymond James restated an “outperform” rating and set a $52.00 target price on shares of Freeport-McMoRan in a research note on Friday, April 25th. Finally, Wolfe Research raised shares of Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.09.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $37.00 on Thursday. The stock has a market cap of $53.17 billion, a P/E ratio of 28.68, a P/E/G ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $55.24. The stock has a 50 day moving average of $36.20 and a two-hundred day moving average of $39.38. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results 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 net margin of 7.42% and a return on equity of 7.50%. The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. Freeport-McMoRan’s revenue for the quarter was down 9.4% on a year-over-year basis. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.62%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 24.79%.

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.