Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by CSM Advisors LLC

CSM Advisors LLC cut its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 103,155 shares of the natural resource company's stock after selling 46,880 shares during the quarter. CSM Advisors LLC's holdings in Freeport-McMoRan were worth $3,928,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of FCX. Wellington Management Group LLP raised its holdings in shares of Freeport-McMoRan by 237.4% in the fourth quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock worth $351,041,000 after acquiring an additional 6,486,011 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Freeport-McMoRan by 21.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock valued at $1,214,203,000 after purchasing an additional 5,735,171 shares during the last quarter. Amundi boosted its stake in shares of Freeport-McMoRan by 30.2% during the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock worth $857,305,000 after purchasing an additional 5,001,531 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Freeport-McMoRan by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock worth $619,682,000 after buying an additional 4,488,210 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Freeport-McMoRan by 142.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company's stock valued at $162,964,000 after buying an additional 2,515,103 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on FCX. BMO Capital Markets lowered their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Argus lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Wolfe Research raised Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group reaffirmed a "buy" rating and set a $50.00 price objective (up previously from $48.00) on shares of Freeport-McMoRan in a research note on Friday. Finally, StockNews.com downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Five investment 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.00.

Freeport-McMoRan Stock Down 0.8 %

Shares of FCX traded down $0.31 during mid-day trading on Friday, reaching $37.32. 10,953,380 shares of the stock traded hands, compared to its average volume of 13,890,683. The stock has a fifty day simple moving average of $36.27 and a 200 day simple moving average of $39.95. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $55.24. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The firm has a market cap of $53.63 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 0.87 and a beta of 1.71.

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, missing analysts' consensus estimates of $0.25 by ($0.01). The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. During the same quarter in the prior year, the firm earned $0.32 EPS. Sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 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.