Edmond DE Rothschild Holding S.A. Lowers Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Edmond DE Rothschild Holding S.A. reduced its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 22.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,356 shares of the natural resource company's stock after selling 8,824 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Freeport-McMoRan were worth $1,194,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Continuum Advisory LLC grew its stake in Freeport-McMoRan by 46.8% in the third 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 during the last quarter. PFG Investments LLC grew its position in shares of Freeport-McMoRan by 1.3% in 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 during the last quarter. Palogic Value Management L.P. raised its stake in shares of Freeport-McMoRan by 1.5% during the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock worth $772,000 after acquiring an additional 292 shares in the last quarter. SeaCrest Wealth Management LLC raised its stake in shares of Freeport-McMoRan by 1.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock worth $727,000 after acquiring an additional 307 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in Freeport-McMoRan by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $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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Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. StockNews.com raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Monday, March 31st. JPMorgan Chase & Co. upgraded Freeport-McMoRan from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their price target for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Freeport-McMoRan presently has an average rating of "Moderate Buy" and an average price target of $51.61.

Freeport-McMoRan Stock Performance

Shares of FCX stock traded down $4.37 during trading hours on Friday, hitting $29.14. The company's stock had a trading volume of 44,396,895 shares, compared to its average volume of 13,532,179. 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 company has a 50 day moving average of $37.75 and a 200 day moving average of $41.74. Freeport-McMoRan Inc. has a 12-month low of $28.49 and a 12-month high of $55.24. The stock has a market cap of $41.88 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) 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.