Financial Counselors Inc. Cuts Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Financial Counselors Inc. trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 52.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,975 shares of the natural resource company's stock after selling 9,767 shares during the quarter. Financial Counselors Inc.'s holdings in Freeport-McMoRan were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new stake in Freeport-McMoRan in the 4th quarter worth $40,000. Potentia Wealth bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $640,000. Signature Estate & Investment Advisors LLC increased its position in shares of Freeport-McMoRan by 9.8% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 463,394 shares of the natural resource company's stock valued at $17,646,000 after buying an additional 41,172 shares during the period. Zions Bancorporation N.A. raised its stake in Freeport-McMoRan by 13.3% in the fourth quarter. Zions Bancorporation N.A. now owns 6,488 shares of the natural resource company's stock worth $247,000 after buying an additional 762 shares in the last quarter. Finally, Princeton Capital Management LLC lifted its holdings in Freeport-McMoRan by 2.6% in the fourth quarter. Princeton Capital Management LLC now owns 25,705 shares of the natural resource company's stock worth $979,000 after buying an additional 660 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

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Freeport-McMoRan Stock Performance

Shares of FCX stock traded down $0.10 during trading hours on Tuesday, reaching $37.76. The company had a trading volume of 8,306,107 shares, compared to its average volume of 15,941,075. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The business has a fifty day moving average price of $38.09 and a 200-day moving average price of $41.95. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24. The firm has a market cap of $54.27 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

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

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. 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 1.59%. Freeport-McMoRan's dividend payout ratio is currently 23.26%.

Analysts Set New Price Targets

FCX has been the topic of a number of research analyst reports. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Scotiabank reduced their price target on 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. Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. BMO Capital Markets dropped their target price 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. Finally, JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.04.

Freeport-McMoRan Company 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.