Boothbay Fund Management LLC Sells 15,105 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Boothbay Fund Management LLC lowered its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 32.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,110 shares of the natural resource company's stock after selling 15,105 shares during the quarter. Boothbay Fund Management LLC's holdings in Freeport-McMoRan were worth $1,185,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $754,000. Madison Investment Advisors LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter valued at approximately $3,388,000. Principal Financial Group Inc. increased its position in shares of Freeport-McMoRan by 4.1% during the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company's stock worth $84,085,000 after acquiring an additional 66,699 shares in the last quarter. Czech National Bank grew its holdings in shares of Freeport-McMoRan by 6.4% during the fourth quarter. Czech National Bank now owns 311,555 shares of the natural resource company's stock worth $11,864,000 after buying an additional 18,852 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of 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 valued at $4,692,191,000 after purchasing an additional 642,776 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

FCX stock traded up $1.22 during mid-day trading on Friday, hitting $37.63. The stock had a trading volume of 11,931,176 shares, compared to its average volume of 13,791,994. The firm has a fifty day simple moving average of $36.18 and a 200 day simple moving average of $39.66. The firm has a market capitalization of $54.08 billion, a P/E ratio of 29.17, a P/E/G ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data 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 net margin of 7.42% and a return on equity of 7.50%. The business had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The firm's revenue was down 9.4% compared to the same quarter last year. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's payout ratio is presently 24.79%.

Wall Street Analyst Weigh In

Several research firms have weighed in on FCX. BMO Capital Markets lowered their price target on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Raymond James reaffirmed an "outperform" rating and issued a $52.00 target price on shares of Freeport-McMoRan in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $48.09.

About Freeport-McMoRan

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.