AIA Group Ltd Reduces Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

AIA Group Ltd decreased its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 40.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,159 shares of the natural resource company's stock after selling 37,065 shares during the period. AIA Group Ltd's holdings in Freeport-McMoRan were worth $2,100,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Asset Planning Inc purchased a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $25,000. Vision Financial Markets LLC purchased a new stake in Freeport-McMoRan during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC grew its holdings in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock valued at $28,000 after purchasing an additional 600 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 80.77% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on FCX shares. Scotiabank dropped their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a report on Friday, January 24th. Sanford C. Bernstein cut shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. StockNews.com raised Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Monday. Finally, BMO Capital Markets decreased their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $52.04.

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Freeport-McMoRan Trading Down 12.4 %

Shares of NYSE:FCX traded down $4.75 during trading on Thursday, reaching $33.46. 31,974,829 shares of the stock were exchanged, compared to its average volume of 13,478,705. The firm's 50-day moving average price is $38.03 and its 200 day moving average price is $41.89. The firm has a market cap of $48.08 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 12-month low of $33.44 and a 12-month high of $55.24. 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 (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 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%. On average, sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.79%. Freeport-McMoRan's payout ratio is currently 23.26%.

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.