CreativeOne Wealth LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 47.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,340 shares of the natural resource company's stock after selling 11,899 shares during the quarter. CreativeOne Wealth LLC's holdings in Freeport-McMoRan were worth $508,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Asset Planning Inc purchased a new stake in Freeport-McMoRan in the fourth quarter worth $25,000. Mizuho Bank Ltd. purchased a new stake in Freeport-McMoRan in the 4th quarter valued at about $26,000. Vision Financial Markets LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter worth approximately $27,000. Laurel Wealth Advisors LLC boosted its holdings 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. Finally, Roxbury Financial LLC bought a new position in Freeport-McMoRan in the fourth quarter worth approximately $28,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.
Freeport-McMoRan Trading Down 1.3 %
Freeport-McMoRan stock opened at $32.90 on Friday. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $55.24. The stock has a 50-day moving average price of $36.66 and a 200 day moving average price of $40.52. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $47.28 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its quarterly earnings data 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 anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.
Freeport-McMoRan Announces Dividend
The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.82%. Freeport-McMoRan's payout ratio is 23.26%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. BMO Capital Markets cut their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Scotiabank dropped their price objective on Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Monday, April 7th. Finally, Raymond James boosted their target price on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Six analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, Freeport-McMoRan currently has an average rating of "Moderate Buy" and a consensus target price of $48.39.
View Our Latest Report on FCX
About Freeport-McMoRan
(
Free Report)
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.
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