Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC lowered its position in Freeport-McMoRan Inc. (NYSE:FCX) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,435 shares of the natural resource company’s stock after selling 3,264 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Freeport-McMoRan were worth $5,157,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FCX. Matrix Trust Co bought a new stake in shares of Freeport-McMoRan in the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Freeport-McMoRan during the 2nd quarter worth $27,000. Laurel Wealth Advisors LLC increased its position in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the last quarter. Godsey & Gibb Inc. raised its stake in shares of Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 346 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after purchasing an additional 236 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $40.27 on Monday. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $41.25 and a 200-day moving average of $44.27. Freeport-McMoRan Inc. has a twelve month low of $36.26 and a twelve month high of $55.24. The firm has a market cap of $57.86 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the previous year, the firm posted $0.39 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Analysts forecast that Freeport-McMoRan Inc. will post 1.46 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, January 15th. Freeport-McMoRan’s payout ratio is 21.90%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their price objective on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Scotiabank lowered their target price on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Raymond James increased their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $52.42.

About Freeport-McMoRan

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.