Brown Brothers Harriman & Co. Has $220,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Brown Brothers Harriman & Co. trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,765 shares of the natural resource company’s stock after selling 575 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Freeport-McMoRan were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Continuum Advisory LLC grew its position in shares of Freeport-McMoRan by 46.8% during the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares during the period. PFG Investments LLC grew its holdings in Freeport-McMoRan by 1.3% in the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after purchasing an additional 283 shares during the period. Palogic Value Management L.P. increased its stake in Freeport-McMoRan by 1.5% in the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock valued at $772,000 after purchasing an additional 292 shares in the last quarter. SeaCrest Wealth Management LLC boosted its position in shares of Freeport-McMoRan by 1.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock worth $727,000 after purchasing an additional 307 shares in the last quarter. Finally, Inspire Advisors LLC boosted its position in shares of Freeport-McMoRan by 2.6% during the 4th quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company’s stock worth $494,000 after purchasing an additional 325 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 1.5 %

Shares of NYSE FCX opened at $37.85 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a market cap of $54.39 billion, a P/E ratio of 29.34, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The business has a 50-day simple moving average of $38.09 and a two-hundred day simple moving average of $41.95.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.59%. Freeport-McMoRan’s dividend payout ratio is presently 23.26%.

Analyst Upgrades and Downgrades

A number of analysts have commented on FCX shares. StockNews.com upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Monday. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Finally, BMO Capital Markets reduced their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

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.