Robeco Institutional Asset Management B.V. Reduces Holdings in Freeport-McMoRan Inc. $FCX

Robeco Institutional Asset Management B.V. lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 29.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,499 shares of the natural resource company's stock after selling 21,089 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Freeport-McMoRan were worth $2,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCX. Kestra Private Wealth Services LLC raised its holdings in shares of Freeport-McMoRan by 0.4% during 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 purchasing an additional 275 shares during the period. Princeton Capital Management LLC grew its position in Freeport-McMoRan by 1.1% in the 1st quarter. Princeton Capital Management LLC now owns 25,980 shares of the natural resource company's stock valued at $984,000 after buying an additional 275 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in Freeport-McMoRan by 3.2% in the 1st quarter. Capital Investment Advisory Services LLC now owns 9,102 shares of the natural resource company's stock valued at $345,000 after buying an additional 278 shares in the last quarter. Capital Analysts LLC grew its position in Freeport-McMoRan by 12.5% in the 1st quarter. Capital Analysts LLC now owns 2,550 shares of the natural resource company's stock valued at $96,000 after buying an additional 284 shares in the last quarter. Finally, Sargent Investment Group LLC boosted its position in shares of Freeport-McMoRan by 2.8% during the 1st quarter. Sargent Investment Group LLC now owns 10,421 shares of the natural resource company's stock valued at $395,000 after purchasing an additional 285 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Up 1.0%

Shares of FCX stock opened at $40.73 on Wednesday. The stock has a market cap of $58.47 billion, a P/E ratio of 30.85, a price-to-earnings-growth ratio of 0.89 and a beta of 1.58. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $50.28. The stock has a fifty day moving average price of $42.35 and a 200 day moving average price of $40.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.47 and a quick ratio of 1.21.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.09. The company had revenue of $7.58 billion during the quarter, compared to analysts' expectations of $6.85 billion. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The business's revenue was up 14.5% on a year-over-year basis. During the same period last year, the business earned $0.46 earnings per share. 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 will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 15th. Freeport-McMoRan's payout ratio is currently 22.73%.

Wall Street Analyst Weigh In

FCX has been the subject of several research reports. Hsbc Global Res lowered shares of Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. UBS Group set a $48.00 price target on shares of Freeport-McMoRan and gave the stock a "buy" rating in a research report on Friday. Johnson Rice reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 in a research report on Monday, September 29th. Dbs Bank dropped their price objective on Freeport-McMoRan from $51.00 to $48.00 in a report on Thursday, October 2nd. Finally, Wall Street Zen downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.75.

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.

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