Shell Asset Management Co. Trims Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Shell Asset Management Co. reduced its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 67.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,615 shares of the natural resource company's stock after selling 9,453 shares during the quarter. Shell Asset Management Co.'s holdings in Freeport-McMoRan were worth $176,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FCX. Sherbrooke Park Advisers LLC grew its position in Freeport-McMoRan by 61.2% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 23,748 shares of the natural resource company's stock worth $904,000 after purchasing an additional 9,012 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in shares of Freeport-McMoRan by 10.6% in the fourth quarter. Rafferty Asset Management LLC now owns 129,326 shares of the natural resource company's stock valued at $4,925,000 after buying an additional 12,386 shares during the last quarter. Recurrent Investment Advisors LLC boosted its stake in shares of Freeport-McMoRan by 77.1% during the fourth quarter. Recurrent Investment Advisors LLC now owns 71,263 shares of the natural resource company's stock worth $2,714,000 after buying an additional 31,023 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Freeport-McMoRan during the fourth quarter worth about $1,176,000. Finally, ProShare Advisors LLC grew its holdings in shares of Freeport-McMoRan by 14.9% during the fourth quarter. ProShare Advisors LLC now owns 260,243 shares of the natural resource company's stock worth $9,910,000 after buying an additional 33,749 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $38.78 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $55.24. The company has a 50-day simple moving average of $36.55 and a 200-day simple moving average of $38.81. The company has a market capitalization of $55.73 billion, a PE ratio of 30.06, a P/E/G ratio of 0.87 and a beta of 1.65.

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

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.55%. Freeport-McMoRan's dividend payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

FCX has been the subject of several analyst reports. Argus downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. StockNews.com lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Scotiabank increased their price target on Freeport-McMoRan from $40.00 to $43.00 and gave the stock 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 note on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. 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 company. Based on data from MarketBeat.com, the company presently 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.

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