Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,321 shares of the natural resource company’s stock after selling 686 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Freeport-McMoRan were worth $780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JB Capital LLC raised its stake in Freeport-McMoRan by 7.8% during the fourth quarter. JB Capital LLC now owns 78,728 shares of the natural resource company’s stock worth $3,352,000 after acquiring an additional 5,700 shares during the period. SevenBridge Financial Group LLC raised its stake in Freeport-McMoRan by 12.0% during the fourth quarter. SevenBridge Financial Group LLC now owns 30,416 shares of the natural resource company’s stock worth $1,295,000 after acquiring an additional 3,266 shares during the period. Foster Victor Wealth Advisors LLC increased its stake in shares of Freeport-McMoRan by 8.4% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 244,392 shares of the natural resource company’s stock valued at $10,313,000 after purchasing an additional 18,908 shares during the period. Worth Financial Advisory Group LLC increased its stake in shares of Freeport-McMoRan by 8.6% in the fourth quarter. Worth Financial Advisory Group LLC now owns 17,446 shares of the natural resource company’s stock valued at $743,000 after purchasing an additional 1,388 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in shares of Freeport-McMoRan by 1.1% in the fourth quarter. Pinnacle Associates Ltd. now owns 220,726 shares of the natural resource company’s stock valued at $9,396,000 after purchasing an additional 2,482 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 7th. Eight Capital set a $55.00 price objective on shares of Freeport-McMoRan and gave the company a “buy” rating in a research note on Wednesday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $41.00 to $48.50 in a research note on Monday, January 8th. Finally, Raymond James raised their price objective on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of “Hold” and a consensus price target of $44.95.

Freeport-McMoRan Trading Up 2.3 %

Freeport-McMoRan stock opened at $48.40 on Wednesday. The company has a 50 day moving average price of $40.82 and a 200 day moving average price of $38.81. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $48.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.38 and a current ratio of 2.42. The firm has a market capitalization of $69.43 billion, a price-to-earnings ratio of 38.11 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue was up 2.6% on a year-over-year basis. Research analysts forecast that Freeport-McMoRan Inc. will post 1.53 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.62%.

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.