Skandinaviska Enskilda Banken AB publ Cuts Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Skandinaviska Enskilda Banken AB publ lessened its stake in Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 272,782 shares of the natural resource company’s stock after selling 739 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Freeport-McMoRan were worth $10,172,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Oliver Luxxe Assets LLC lifted its position in shares of Freeport-McMoRan by 1.2% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 150,470 shares of the natural resource company’s stock valued at $5,611,000 after buying an additional 1,720 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Freeport-McMoRan by 15.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 288,258 shares of the natural resource company’s stock valued at $10,749,000 after buying an additional 38,288 shares in the last quarter. RPG Investment Advisory LLC lifted its position in shares of Freeport-McMoRan by 1.6% during the 3rd quarter. RPG Investment Advisory LLC now owns 236,725 shares of the natural resource company’s stock valued at $8,827,000 after buying an additional 3,800 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Freeport-McMoRan during the 3rd quarter valued at approximately $808,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Freeport-McMoRan during the 3rd quarter valued at approximately $546,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FCX. Eight Capital set a $55.00 target price on Freeport-McMoRan and gave the company a “buy” rating in a research report on Wednesday, December 6th. Raymond James increased their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. JPMorgan Chase & Co. assumed coverage on Freeport-McMoRan in a research note on Tuesday, October 17th. They issued a “neutral” rating and a $42.00 price objective for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.95.

Read Our Latest Research Report on FCX

Freeport-McMoRan Stock Down 2.0 %

Shares of FCX opened at $37.36 on Monday. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $44.70. The company has a market capitalization of $53.57 billion, a PE ratio of 29.42 and a beta of 2.06. The stock has a fifty day simple moving average of $40.12 and a two-hundred day simple moving average of $38.68. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32.

Freeport-McMoRan (NYSE:FCXGet Free Report) last issued its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The business had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.46 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, January 12th were 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 was Thursday, January 11th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.62%.

Freeport-McMoRan Profile

(Free Report)

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; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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