Rockefeller Capital Management L.P. Has $26.57 Million Holdings in Freeport-McMoRan Inc. $FCX

Rockefeller Capital Management L.P. cut its position in Freeport-McMoRan Inc. (NYSE:FCX) by 36.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 523,112 shares of the natural resource company’s stock after selling 298,806 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Freeport-McMoRan were worth $26,569,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Freeport-McMoRan by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company’s stock valued at $6,619,611,000 after acquiring an additional 1,572,769 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Freeport-McMoRan by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company’s stock worth $3,244,504,000 after purchasing an additional 622,343 shares during the last quarter. State Street Corp raised its holdings in shares of Freeport-McMoRan by 0.6% in the 4th quarter. State Street Corp now owns 62,873,136 shares of the natural resource company’s stock valued at $3,193,327,000 after purchasing an additional 395,226 shares during the period. Franklin Resources Inc. raised its holdings in shares of Freeport-McMoRan by 31.2% in the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock valued at $1,897,202,000 after purchasing an additional 8,891,743 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after purchasing an additional 23,950,557 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Up 0.8%

Shares of NYSE:FCX opened at $69.20 on Tuesday. The business’s 50 day simple moving average is $65.04 and its 200 day simple moving average is $60.32. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $72.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The company has a market capitalization of $99.48 billion, a P/E ratio of 36.81, a P/E/G ratio of 0.83 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio is currently 15.96%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Sanford C. Bernstein lifted their price target on Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a report on Wednesday, June 10th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Wall Street Zen upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. UBS Group boosted their target price on Freeport-McMoRan from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Scotiabank increased their price target on Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.81.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.