CSM Advisors LLC Lowers Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

CSM Advisors LLC trimmed its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,155 shares of the natural resource company's stock after selling 46,880 shares during the period. CSM Advisors LLC's holdings in Freeport-McMoRan were worth $3,928,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Asset Planning Inc bought a new stake in Freeport-McMoRan during the fourth quarter valued at $25,000. Mizuho Bank Ltd. purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $26,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter valued at about $27,000. Laurel Wealth Advisors LLC grew its holdings in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after purchasing an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC bought a new position in shares of 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 0.8 %

Shares of FCX stock traded down $0.31 during trading hours on Friday, reaching $37.32. The company's stock had a trading volume of 10,953,380 shares, compared to its average volume of 13,911,264. 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 stock has a market capitalization of $53.63 billion, a P/E ratio of 28.93, a P/E/G ratio of 0.87 and a beta of 1.71. The firm's fifty day simple moving average is $36.27 and its 200 day simple moving average is $40.01. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.01). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The company had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan's payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price target on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. StockNews.com downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Finally, Scotiabank decreased their price objective on Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.50.

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.