Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Nan Shan Life Insurance Co. Ltd.

Nan Shan Life Insurance Co. Ltd. cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,632,570 shares of the natural resource company's stock after selling 146,087 shares during the quarter. Freeport-McMoRan comprises about 1.5% of Nan Shan Life Insurance Co. Ltd.'s investment portfolio, making the stock its 16th largest position. Nan Shan Life Insurance Co. Ltd. owned approximately 0.11% of Freeport-McMoRan worth $62,168,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nearwater Capital Markets Ltd acquired a new stake in shares of Freeport-McMoRan during the fourth quarter valued at $9,974,000. NorthRock Partners LLC lifted its holdings in shares of Freeport-McMoRan by 101.0% during the 4th quarter. NorthRock Partners LLC now owns 18,252 shares of the natural resource company's stock worth $695,000 after acquiring an additional 9,172 shares during the period. Numerai GP LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth $256,000. OMERS ADMINISTRATION Corp grew its holdings in shares of Freeport-McMoRan by 20.4% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 59,960 shares of the natural resource company's stock worth $2,283,000 after purchasing an additional 10,167 shares during the period. Finally, Mountaineer Partners Management LLC raised its stake in shares of Freeport-McMoRan by 3.3% in the 4th quarter. Mountaineer Partners Management LLC now owns 246,840 shares of the natural resource company's stock valued at $9,400,000 after acquiring an additional 7,795 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 0.9%

Shares of FCX stock opened at $39.47 on Wednesday. The business's fifty day moving average is $36.35 and its 200-day moving average is $39.07. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $55.24. The stock has a market cap of $56.72 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $5.73 billion for 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 business's revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. Equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.52%. Freeport-McMoRan's payout ratio is presently 24.79%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Scotiabank decreased their target price on shares of Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Jefferies Financial Group reaffirmed a "buy" rating and set a $50.00 target price (up from $48.00) on shares of Freeport-McMoRan in a research report on Friday, April 25th. UBS Group lowered their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price objective on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, StockNews.com cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.09.

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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