Freeport-McMoRan (NYSE:FCX) Trading Down 0.2% - Should You Sell?

Freeport-McMoRan Inc. (NYSE:FCX - Get Free Report)'s share price dropped 0.2% during mid-day trading on Monday . The company traded as low as $37.05 and last traded at $37.28. Approximately 2,819,068 shares changed hands during trading, a decline of 80% from the average daily volume of 13,849,924 shares. The stock had previously closed at $37.35.

Wall Street Analyst Weigh In

FCX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Scotiabank decreased their price target on shares of Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 7th. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, 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 report on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and an average price target of $48.09.

Freeport-McMoRan Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm has a market capitalization of $54.08 billion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The firm's 50-day moving average price is $36.19 and its two-hundred day moving average price is $39.54.

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, topping analysts' consensus estimates of $0.23 by $0.01. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The business had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. During the same period in the prior year, the firm posted $0.32 EPS. Freeport-McMoRan's quarterly revenue was down 9.4% compared to the same quarter last year. Sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's payout ratio is 24.79%.

Hedge Funds Weigh In On Freeport-McMoRan

Institutional investors have recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth approximately $25,000. Mizuho Bank Ltd. bought a new position in Freeport-McMoRan in the 4th quarter valued at $26,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan in the fourth quarter worth $27,000. Laurel Wealth Advisors LLC boosted its stake in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after purchasing an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan in the fourth quarter valued at about $28,000. 80.77% of the stock is owned by institutional investors.

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.