Guggenheim Capital LLC Has $10.26 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Guggenheim Capital LLC lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 33.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 269,482 shares of the natural resource company's stock after selling 133,165 shares during the quarter. Guggenheim Capital LLC's holdings in Freeport-McMoRan were worth $10,262,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $25,000. Mizuho Bank Ltd. purchased a new stake in Freeport-McMoRan during the fourth quarter valued at about $26,000. Vision Financial Markets LLC purchased a new position in shares of Freeport-McMoRan in the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC lifted its stake in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock valued at $28,000 after purchasing an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth approximately $28,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Down 1.3 %

Shares of Freeport-McMoRan stock traded down $0.43 during trading on Monday, reaching $32.47. 5,993,480 shares of the company were exchanged, compared to its average volume of 13,856,894. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $55.24. The business has a 50-day moving average price of $36.66 and a 200-day moving average price of $40.38. The firm has a market capitalization of $46.66 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 0.87 and a beta of 1.71. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

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

Freeport-McMoRan Announces Dividend

The company also recently declared 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 1.85%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's payout ratio is 23.26%.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a report on Thursday, March 6th. Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Scotiabank cut their target price on Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $48.39.

About Freeport-McMoRan

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.