Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC lowered its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,727 shares of the natural resource company's stock after selling 8,356 shares during the period. Freeport-McMoRan comprises approximately 1.2% of Bedell Frazier Investment Counselling LLC's investment portfolio, making the stock its 25th biggest position. Bedell Frazier Investment Counselling LLC's holdings in Freeport-McMoRan were worth $4,864,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FCX. Asset Planning Inc acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $25,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC grew its position in shares of 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 period. Roxbury Financial LLC purchased a new stake in shares of Freeport-McMoRan during the fourth quarter worth about $28,000. Finally, Continuum Advisory LLC lifted its stake in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock valued at $37,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Trading Down 12.4 %

Freeport-McMoRan stock traded down $4.73 during mid-day trading on Thursday, hitting $33.47. The company's stock had a trading volume of 25,419,986 shares, compared to its average volume of 13,461,593. Freeport-McMoRan Inc. has a 1 year low of $33.44 and a 1 year high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $48.09 billion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The stock's fifty day moving average is $38.03 and its two-hundred day moving average is $41.89.

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Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 7.50% and a net margin of 7.42%. On average, analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is 23.26%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their target price for the company from $40.00 to $48.00 in a report on Thursday, February 27th. BMO Capital Markets dropped their price target on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. StockNews.com upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Monday. Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Finally, Scotiabank decreased their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Friday, January 24th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average 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.