Alerus Financial NA Lowers Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Alerus Financial NA lowered its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 68.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,905 shares of the natural resource company's stock after selling 27,392 shares during the period. Alerus Financial NA's holdings in Freeport-McMoRan were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $25,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC boosted its position in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after purchasing an additional 600 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $28,000. Finally, Continuum Advisory LLC increased its holdings 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 valued at $37,000 after purchasing an additional 236 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

FCX traded down $0.07 on Wednesday, reaching $38.06. 6,216,731 shares of the company's stock were exchanged, compared to its average volume of 13,412,357. The stock has a market cap of $54.69 billion, a PE ratio of 29.50, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. The stock's fifty day moving average price is $38.05 and its 200-day moving average price is $41.92.

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Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given 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 1.58%. Freeport-McMoRan's payout ratio is 23.26%.

Analyst Ratings Changes

Several analysts recently commented on FCX shares. BMO Capital Markets dropped their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. upgraded Freeport-McMoRan from a "neutral" rating to an "overweight" rating and raised their target price for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. StockNews.com raised Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Monday. Scotiabank dropped their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a report on Friday, January 24th. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $52.04.

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.