Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,276,626 shares of the natural resource company's stock after selling 149,460 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Freeport-McMoRan worth $86,694,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Mountaineer Partners Management LLC lifted its holdings in Freeport-McMoRan by 4,767.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock valued at $595,702,000 after purchasing an additional 11,687,982 shares in the last quarter. Amundi lifted its stake in shares of Freeport-McMoRan by 30.2% in the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock worth $857,305,000 after buying an additional 5,001,531 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Freeport-McMoRan by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock worth $619,682,000 after acquiring an additional 4,488,210 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Freeport-McMoRan by 142.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock worth $162,964,000 after acquiring an additional 2,515,103 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company's stock valued at $1,348,522,000 after acquiring an additional 2,366,187 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

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Freeport-McMoRan Trading Down 12.4 %

NYSE:FCX traded down $4.75 during trading hours on Thursday, reaching $33.46. 31,974,829 shares of the stock were exchanged, compared to its average volume of 13,478,679. Freeport-McMoRan Inc. has a twelve month low of $33.44 and a twelve month high of $55.24. The business has a 50-day moving average of $38.03 and a two-hundred day moving average of $41.89. The company has a market capitalization of $48.08 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued 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 of this dividend is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is currently 23.26%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FCX shares. Scotiabank dropped their price target on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. BMO Capital Markets cut their target price on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. upgraded Freeport-McMoRan from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $48.00 to $52.00 in a report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Finally, Sanford C. Bernstein downgraded shares of 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 issued a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus price target of $52.04.

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.