Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 29.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 38,589 shares of the natural resource company's stock after selling 15,873 shares during the period. Siemens Fonds Invest GmbH's holdings in Freeport-McMoRan were worth $1,469,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Freeport-McMoRan by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock worth $4,692,191,000 after acquiring an additional 642,776 shares during the period. Price T Rowe Associates Inc. MD grew its position in Freeport-McMoRan by 21.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock worth $1,214,203,000 after acquiring an additional 5,735,171 shares during the period. Geode Capital Management LLC grew its position in Freeport-McMoRan by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company's stock worth $1,122,922,000 after acquiring an additional 688,240 shares during the period. Franklin Resources Inc. grew its position in Freeport-McMoRan by 8.0% in the fourth quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock worth $1,123,445,000 after acquiring an additional 2,191,926 shares during the period. Finally, Capital World Investors grew its position in Freeport-McMoRan by 3.2% in the fourth quarter. Capital World Investors now owns 24,055,524 shares of the natural resource company's stock worth $916,037,000 after acquiring an additional 750,500 shares during the period. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Down 1.5%

Shares of NYSE FCX traded down $0.57 during mid-day trading on Friday, hitting $38.46. The company had a trading volume of 17,234,797 shares, compared to its average volume of 13,469,817. The company has a market capitalization of $55.27 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $53.29. The business's 50-day simple moving average is $36.27 and its 200 day simple moving average is $38.44.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The company's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. On average, analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Analyst Ratings Changes

A number of research firms have commented on FCX. Raymond James restated an "outperform" rating and set a $52.00 price target on shares of Freeport-McMoRan in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research note on Wednesday, April 16th. Wall Street Zen cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, UBS Group decreased their price target on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan 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.