Villere ST Denis J & Co. LLC Has $41.13 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Villere ST Denis J & Co. LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 823,858 shares of the natural resource company's stock after selling 14,175 shares during the period. Freeport-McMoRan accounts for approximately 3.4% of Villere ST Denis J & Co. LLC's portfolio, making the stock its 5th largest holding. Villere ST Denis J & Co. LLC owned approximately 0.06% of Freeport-McMoRan worth $41,127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FCX. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Freeport-McMoRan by 0.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 64,053 shares of the natural resource company's stock worth $3,012,000 after acquiring an additional 203 shares during the period. Empowered Funds LLC boosted its stake in Freeport-McMoRan by 55.7% in the 1st quarter. Empowered Funds LLC now owns 30,229 shares of the natural resource company's stock worth $1,421,000 after purchasing an additional 10,820 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Freeport-McMoRan by 20.1% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,160 shares of the natural resource company's stock valued at $290,000 after buying an additional 1,032 shares in the last quarter. KCM Investment Advisors LLC increased its position in shares of Freeport-McMoRan by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 45,831 shares of the natural resource company's stock valued at $2,155,000 after buying an additional 774 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Freeport-McMoRan in the first quarter valued at approximately $15,296,000. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

Shares of FCX stock traded down $2.22 during trading hours on Friday, hitting $46.36. 16,197,353 shares of the company's stock were exchanged, compared to its average volume of 9,333,747. Freeport-McMoRan Inc. has a 12-month low of $32.83 and a 12-month high of $55.24. The company has a market capitalization of $66.61 billion, a PE ratio of 33.84, a PEG ratio of 2.00 and a beta of 1.91. The business's 50 day simple moving average is $46.45 and its 200-day simple moving average is $47.58. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The company had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.45 billion. During the same quarter last year, the company earned $0.39 EPS. The firm's revenue was up 16.6% compared to the same quarter last year. On average, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.52 earnings per share for the current year.

Freeport-McMoRan Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Tuesday, October 15th. Freeport-McMoRan's dividend payout ratio (DPR) is presently 21.90%.

Analysts Set New Price Targets

FCX has been the topic of a number of analyst reports. Scotiabank decreased their target price on shares of Freeport-McMoRan from $53.00 to $52.00 and set a "sector perform" rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley decreased their price target on shares of Freeport-McMoRan from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, September 19th. UBS Group raised Freeport-McMoRan from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $54.00 to $55.00 in a research note on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 15th. Finally, Raymond James lifted their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the company an "outperform" rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.00.

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.