Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 4.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 608,160 shares of the natural resource company's stock after selling 30,108 shares during the period. Public Employees Retirement System of Ohio's holdings in Freeport-McMoRan were worth $23,159,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Asset Planning Inc bought a new position in Freeport-McMoRan during the fourth quarter worth about $25,000. Mizuho Bank Ltd. purchased a new position in shares of Freeport-McMoRan in the fourth quarter worth $26,000. Vision Financial Markets LLC purchased a new position in shares of Freeport-McMoRan in the fourth quarter worth $27,000. Roxbury Financial LLC purchased a new position in Freeport-McMoRan during the 4th quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $29,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Trading Down 1.8%

NYSE:FCX traded down $0.72 during mid-day trading on Wednesday, hitting $38.92. 7,679,524 shares of the company's stock were exchanged, compared to its average volume of 13,464,070. The firm has a market capitalization of $55.93 billion, a P/E ratio of 30.17, a PEG ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $53.29. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a 50 day simple moving average of $36.44 and a 200-day simple moving average of $38.52.

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

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.54%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is currently 24.79%.

Analysts Set New Price Targets

Several equities analysts have issued reports on FCX shares. Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Scotiabank increased their price target on shares of Freeport-McMoRan from $40.00 to $43.00 and gave the company a "sector perform" rating in a report on Wednesday, May 14th. Hsbc Global Res raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Finally, UBS Group decreased their target price on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus target price 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.