Freeport-McMoRan (NYSE:FCX) Trading Down 1.2% - Should You Sell?

Key Points

• Freeport-McMoRan's stock price declined by 1.2% on Friday, trading at $41.18 after hitting a low of $40.71, with trading volume down by 19% from its average.
• Analysts have mixed ratings**;** JPMorgan Chase & Co. raised their target price to $50.00 while HSBC Global Research downgraded it to a "hold," with a consensus average price target of $46.90.
• A quarterly dividend of $0.15 was announced, to be paid on November 3rd, representing a 1.5% yield and a low payout ratio of 22.73%.

Freeport-McMoRan Inc. (NYSE:FCX - Get Free Report)'s stock price was down 1.2% on Friday . The company traded as low as $40.71 and last traded at $41.18. Approximately 13,638,879 shares changed hands during trading, a decline of 19% from the average daily volume of 16,789,906 shares. The stock had previously closed at $41.70.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Hsbc Global Res cut Freeport-McMoRan from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Freeport-McMoRan in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Freeport-McMoRan from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, October 9th. Royal Bank Of Canada decreased their target price on Freeport-McMoRan from $54.00 to $48.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 1st. Finally, Bank of America raised Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a research report on Tuesday, September 30th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $46.90.

Freeport-McMoRan Trading Down 1.2%

The firm has a fifty day moving average of $42.65 and a two-hundred day moving average of $40.62. The company has a market cap of $59.12 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 0.95 and a beta of 1.58. The company has a current ratio of 2.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.30.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The natural resource company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.09. Freeport-McMoRan had a return on equity of 7.37% and a net margin of 7.45%.The company had revenue of $7.58 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same quarter last year, the firm posted $0.46 EPS. The firm's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 15th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $0.60 annualized dividend and a yield of 1.5%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 22.73%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Callan Family Office LLC boosted its stake in Freeport-McMoRan by 229.9% in the 2nd quarter. Callan Family Office LLC now owns 26,983 shares of the natural resource company's stock worth $1,170,000 after purchasing an additional 18,803 shares during the period. Stratos Investment Management LLC boosted its stake in Freeport-McMoRan by 238.5% in the 1st quarter. Stratos Investment Management LLC now owns 64,519 shares of the natural resource company's stock worth $2,443,000 after purchasing an additional 45,458 shares during the period. Bourgeon Capital Management LLC boosted its position in shares of Freeport-McMoRan by 8.1% during the 2nd quarter. Bourgeon Capital Management LLC now owns 331,549 shares of the natural resource company's stock valued at $14,373,000 after acquiring an additional 24,803 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Freeport-McMoRan by 2.2% during the 1st quarter. Arizona State Retirement System now owns 421,469 shares of the natural resource company's stock valued at $15,957,000 after acquiring an additional 8,989 shares during the last quarter. Finally, Financial Sense Advisors Inc. boosted its position in shares of Freeport-McMoRan by 527.9% during the 1st quarter. Financial Sense Advisors Inc. now owns 76,127 shares of the natural resource company's stock valued at $2,882,000 after acquiring an additional 64,003 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

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.

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