Signaturefd LLC Sells 1,043 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Signaturefd LLC lowered its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,544 shares of the natural resource company’s stock after selling 1,043 shares during the quarter. Signaturefd LLC’s holdings in Freeport-McMoRan were worth $1,215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCX. Nicholas Hoffman & Company LLC. boosted its position in shares of Freeport-McMoRan by 3.8% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 8,494 shares of the natural resource company’s stock worth $362,000 after acquiring an additional 313 shares during the last quarter. Verdence Capital Advisors LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $209,000. abrdn plc increased its holdings in shares of Freeport-McMoRan by 83.7% in the fourth quarter. abrdn plc now owns 664,672 shares of the natural resource company’s stock worth $28,295,000 after purchasing an additional 302,762 shares during the last quarter. Greenleaf Trust lifted its position in shares of Freeport-McMoRan by 8.0% in the fourth quarter. Greenleaf Trust now owns 24,647 shares of the natural resource company’s stock worth $1,049,000 after buying an additional 1,817 shares in the last quarter. Finally, Fidelis Capital Partners LLC lifted its position in shares of Freeport-McMoRan by 30.2% in the fourth quarter. Fidelis Capital Partners LLC now owns 10,538 shares of the natural resource company’s stock worth $449,000 after buying an additional 2,447 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $49.61 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. The firm has a market capitalization of $71.16 billion, a P/E ratio of 39.06, a price-to-earnings-growth ratio of 2.28 and a beta of 2.04. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $52.42. The company’s 50-day moving average is $43.57 and its 200 day moving average is $39.96.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts forecast that Freeport-McMoRan Inc. will post 1.57 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. Freeport-McMoRan’s dividend payout ratio (DPR) is 23.62%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $41.00 to $48.50 in a research note on Monday, January 8th. JPMorgan Chase & Co. boosted their price target on shares of Freeport-McMoRan from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Raymond James boosted their target price on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.23.

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.