Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 647,971 shares of the natural resource company's stock after selling 12,099 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Freeport-McMoRan were worth $24,675,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FCX. Sanctuary Advisors LLC raised its position in Freeport-McMoRan by 9.7% in the third quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company's stock valued at $8,219,000 after purchasing an additional 14,501 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freeport-McMoRan during the 3rd quarter worth about $754,000. Madison Investment Advisors LLC purchased a new stake in Freeport-McMoRan in the 4th quarter valued at about $3,388,000. Principal Financial Group Inc. lifted its position in Freeport-McMoRan by 4.1% in the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company's stock valued at $84,085,000 after buying an additional 66,699 shares during the last quarter. Finally, Czech National Bank boosted its stake in Freeport-McMoRan by 6.4% during the fourth quarter. Czech National Bank now owns 311,555 shares of the natural resource company's stock worth $11,864,000 after buying an additional 18,852 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Scotiabank reduced their price target on shares of 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. Dbs Bank raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Finally, Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and raised their target price for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.04.

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Freeport-McMoRan Stock Up 0.6 %

NYSE:FCX traded up $0.23 during mid-day trading on Tuesday, hitting $38.09. The stock had a trading volume of 13,112,928 shares, compared to its average volume of 13,439,948. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. The stock has a 50-day simple moving average of $38.05 and a two-hundred day simple moving average of $41.92. 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 market capitalization of $54.74 billion, a PE ratio of 29.53, a PEG ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.42% and a return on equity of 7.50%. On average, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is 23.26%.

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.