Foundry Partners LLC Sells 22,140 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Foundry Partners LLC trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 178,675 shares of the natural resource company's stock after selling 22,140 shares during the period. Foundry Partners LLC's holdings in Freeport-McMoRan were worth $7,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FCX. Price T Rowe Associates Inc. MD lifted its stake in shares of Freeport-McMoRan by 102.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,698,016 shares of the natural resource company's stock valued at $355,838,000 after acquiring an additional 4,410,429 shares during the last quarter. Capital Wealth Planning LLC purchased a new position in shares of Freeport-McMoRan during the 3rd quarter worth approximately $160,160,000. Mizuho Markets Americas LLC purchased a new stake in shares of Freeport-McMoRan in the 3rd quarter worth approximately $141,407,000. Imprint Wealth LLC grew its stake in shares of Freeport-McMoRan by 1,678.9% in the 2nd quarter. Imprint Wealth LLC now owns 2,098,587 shares of the natural resource company's stock worth $209,859,000 after buying an additional 1,980,616 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd grew its stake in shares of Freeport-McMoRan by 57.4% in the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company's stock worth $201,039,000 after buying an additional 1,965,987 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock traded down $0.55 during trading on Friday, reaching $49.61. The company had a trading volume of 17,066,676 shares, compared to its average volume of 15,055,349. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $52.42. The firm's 50-day simple moving average is $43.57 and its 200 day simple moving average is $39.96. The firm has a market capitalization of $71.16 billion, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 2.28 and a beta of 2.04. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The company had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.85 billion. During the same period last year, the firm earned $0.52 EPS. Freeport-McMoRan's revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.57 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. Freeport-McMoRan's payout ratio is presently 23.62%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FCX shares. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a research report on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on Freeport-McMoRan from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday. Raymond James upped their price objective on Freeport-McMoRan from $42.00 to $43.00 and gave the company an "outperform" rating in a research report on Thursday, January 4th. Scotiabank upped their price objective on Freeport-McMoRan from $48.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Tuesday, April 9th. Finally, Bank of America raised Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $59.00 price target on the stock in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $47.54.

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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