Freeport-McMoRan Inc. (NYSE:FCX) Stake Lowered by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,391 shares of the natural resource company's stock after selling 28,581 shares during the period. Yousif Capital Management LLC's holdings in Freeport-McMoRan were worth $8,318,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CM Management LLC boosted its holdings in shares of Freeport-McMoRan by 80.0% during the 3rd quarter. CM Management LLC now owns 36,000 shares of the natural resource company's stock valued at $1,342,000 after buying an additional 16,000 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Freeport-McMoRan by 6.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company's stock valued at $14,726,000 after buying an additional 20,894 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Freeport-McMoRan by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company's stock valued at $279,977,000 after buying an additional 102,466 shares in the last quarter. Cadinha & Co. LLC raised its position in shares of Freeport-McMoRan by 59.0% in the 4th quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company's stock worth $27,572,000 after purchasing an additional 240,340 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its position 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 purchasing an additional 1,965,987 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Trading Up 2.4 %

FCX traded up $1.16 during trading on Thursday, reaching $49.40. The company had a trading volume of 15,961,049 shares, compared to its average volume of 13,933,012. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $52.42. The stock has a market cap of $70.86 billion, a P/E ratio of 43.72, a PEG ratio of 2.20 and a beta of 2.04. The business has a 50 day simple moving average of $44.24 and a 200-day simple moving average of $40.20. The company has a quick ratio of 1.38, a current ratio of 2.35 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $5.70 billion. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The business's revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.57 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. Freeport-McMoRan's dividend payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America raised Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $59.00 price target for the company in a research report on Tuesday, April 9th. Raymond James lifted their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the stock an "outperform" rating in a research report on Wednesday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $55.00 price target on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Sanford C. Bernstein raised Freeport-McMoRan from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $41.00 to $48.50 in a research report on Monday, January 8th. Finally, Bernstein Bank boosted their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an "overweight" rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.07.

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.