IHT Wealth Management LLC Sells 13,638 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

IHT Wealth Management LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 35.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 24,945 shares of the natural resource company's stock after selling 13,638 shares during the period. IHT Wealth Management LLC's holdings in Freeport-McMoRan were worth $950,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. PFG Investments LLC lifted its stake in Freeport-McMoRan by 1.3% in the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company's stock valued at $872,000 after buying an additional 283 shares during the period. Palogic Value Management L.P. raised its position in shares of Freeport-McMoRan by 1.5% in the 4th quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company's stock valued at $772,000 after acquiring an additional 292 shares during the period. SeaCrest Wealth Management LLC boosted its stake in Freeport-McMoRan by 1.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock worth $727,000 after acquiring an additional 307 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Freeport-McMoRan by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company's stock valued at $1,451,000 after purchasing an additional 309 shares during the period. Finally, Inspire Advisors LLC increased its stake in Freeport-McMoRan by 2.6% in the fourth quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company's stock valued at $494,000 after purchasing an additional 325 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FCX. StockNews.com lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. 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 research note on Thursday, March 6th. Jefferies Financial Group reaffirmed a "buy" rating and set a $50.00 price target (up previously from $48.00) on shares of Freeport-McMoRan in a research report on Friday. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.00.

Freeport-McMoRan Stock Down 0.8 %

Shares of FCX stock traded down $0.31 during trading on Monday, reaching $37.05. The company's stock had a trading volume of 4,528,416 shares, compared to its average volume of 17,688,695. The company has a market cap of $53.24 billion, a price-to-earnings ratio of 28.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $55.24. The business has a fifty day moving average price of $36.27 and a 200-day moving average price of $39.88. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The company had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.36 billion. During the same period in the prior year, the firm posted $0.32 EPS. Analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan's payout ratio is presently 24.79%.

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.