GTS Securities LLC Sells 342,099 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

GTS Securities LLC lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 98.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,959 shares of the natural resource company's stock after selling 342,099 shares during the quarter. GTS Securities LLC's holdings in Freeport-McMoRan were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of FCX. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $25,000. Mizuho Bank Ltd. bought a new stake in Freeport-McMoRan during the fourth quarter worth about $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth about $27,000. Roxbury Financial LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Freeport-McMoRan during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FCX. Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Wall Street Zen cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. UBS Group lowered their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Scotiabank boosted their target price on Freeport-McMoRan from $40.00 to $43.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 14th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan Trading Down 1.5%

Shares of NYSE:FCX traded down $0.57 during midday trading on Friday, hitting $38.46. 17,234,797 shares of the stock were exchanged, compared to its average volume of 13,450,098. The stock has a market capitalization of $55.27 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 0.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The business's 50-day moving average price is $36.27 and its 200 day moving average price is $38.44. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $53.15.

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

Freeport-McMoRan Announces Dividend

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

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.