D L Carlson Investment Group Inc. Cuts Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

D L Carlson Investment Group Inc. lowered its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,669 shares of the natural resource company's stock after selling 19,715 shares during the period. D L Carlson Investment Group Inc.'s holdings in Freeport-McMoRan were worth $2,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Continuum Advisory LLC raised its stake 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 worth $37,000 after buying an additional 236 shares during the period. PFG Investments LLC increased its stake in Freeport-McMoRan by 1.3% during the 4th quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company's stock worth $872,000 after buying an additional 283 shares in the last quarter. Palogic Value Management L.P. raised its holdings in shares of Freeport-McMoRan by 1.5% during the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock valued at $772,000 after acquiring an additional 292 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in shares of Freeport-McMoRan by 1.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock valued at $727,000 after acquiring an additional 307 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Freeport-McMoRan by 0.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock worth $1,451,000 after acquiring an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have weighed in on FCX. Argus lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a research report on Monday. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and boosted their target price for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Scotiabank cut their price target 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. Finally, Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.04.

Freeport-McMoRan Stock Down 12.4 %

Shares of NYSE:FCX traded down $4.74 on Thursday, hitting $33.46. 25,419,986 shares of the company's stock were exchanged, compared to its average volume of 13,461,593. 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 Inc. has a 1-year low of $33.44 and a 1-year high of $55.24. The company has a market capitalization of $48.08 billion, a PE ratio of 25.99, a P/E/G ratio of 0.87 and a beta of 1.87. The firm's 50-day moving average is $38.03 and its 200 day moving average is $41.89.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced 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 predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

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

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.