Stevens Capital Management LP Has $239,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Stevens Capital Management LP reduced its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 75.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,792 shares of the natural resource company's stock after selling 15,117 shares during the quarter. Stevens Capital Management LP's holdings in Freeport-McMoRan were worth $239,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC increased its stake in Freeport-McMoRan by 2.4% in the third quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company's stock valued at $2,965,717,000 after acquiring an additional 1,392,494 shares during the last quarter. Mountaineer Partners Management LLC increased its stake in shares of 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 during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Freeport-McMoRan by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,028,452 shares of the natural resource company's stock worth $536,038,000 after buying an additional 530,676 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Freeport-McMoRan by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 10,343,109 shares of the natural resource company's stock worth $502,675,000 after buying an additional 56,499 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Freeport-McMoRan by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,223,038 shares of the natural resource company's stock worth $410,494,000 after buying an additional 127,251 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FCX shares. Morgan Stanley decreased their target price on Freeport-McMoRan from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, September 19th. StockNews.com lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Thursday, September 26th. Raymond James upped their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, October 15th. Finally, Scotiabank lowered their price target on shares of Freeport-McMoRan from $53.00 to $52.00 and set a "sector perform" rating for the company in a report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $54.00.

Freeport-McMoRan Trading Down 1.7 %

Shares of NYSE FCX traded down $0.72 during trading on Friday, reaching $42.07. The company had a trading volume of 9,468,947 shares, compared to its average volume of 12,827,864. The stock has a market cap of $60.45 billion, a P/E ratio of 30.71, a PEG ratio of 17.29 and a beta of 1.86. The company's fifty day moving average price is $46.27 and its 200-day moving average price is $46.53. The company has a quick ratio of 1.30, a current ratio of 2.33 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 12 month low of $36.04 and a 12 month high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.01. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The company's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.5 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 15th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, October 15th. Freeport-McMoRan's dividend payout ratio is presently 21.90%.

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.