Freeport-McMoRan Inc. $FCX Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC cut its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 25.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 59,836 shares of the natural resource company’s stock after selling 20,253 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Freeport-McMoRan were worth $2,594,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kestra Private Wealth Services LLC raised its position in Freeport-McMoRan by 0.4% in the first quarter. Kestra Private Wealth Services LLC now owns 62,015 shares of the natural resource company’s stock worth $2,348,000 after acquiring an additional 275 shares in the last quarter. Princeton Capital Management LLC lifted its stake in Freeport-McMoRan by 1.1% during the first quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company’s stock valued at $984,000 after purchasing an additional 275 shares during the last quarter. Capital Investment Advisory Services LLC lifted its stake in Freeport-McMoRan by 3.2% during the first quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company’s stock valued at $345,000 after purchasing an additional 278 shares during the last quarter. Capital Analysts LLC boosted its holdings in Freeport-McMoRan by 12.5% during the first quarter. Capital Analysts LLC now owns 2,550 shares of the natural resource company’s stock worth $96,000 after buying an additional 284 shares in the last quarter. Finally, Sargent Investment Group LLC grew its position in Freeport-McMoRan by 2.8% in the first quarter. Sargent Investment Group LLC now owns 10,421 shares of the natural resource company’s stock worth $395,000 after buying an additional 285 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $56.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. BNP Paribas Exane decreased their price target on Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and set a $48.50 price objective for the company in a research note on Thursday, September 25th. Clarkson Capital reiterated a “neutral” rating and issued a $42.00 target price on shares of Freeport-McMoRan in a report on Thursday, September 25th. Finally, Hsbc Global Res lowered shares of Freeport-McMoRan from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $46.47.

Freeport-McMoRan Trading Down 0.6%

NYSE:FCX opened at $38.86 on Friday. The stock has a market cap of $55.80 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 0.71 and a beta of 1.58. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $51.19. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21. The stock’s 50-day moving average is $42.58 and its two-hundred day moving average is $40.54.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The firm had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $6.85 billion. Freeport-McMoRan had a net margin of 7.45% and a return on equity of 7.37%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. As a group, equities research analysts forecast 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 Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. Freeport-McMoRan’s dividend payout ratio is 22.73%.

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.