Crossmark Global Holdings Inc. grew its stake in Freeport-McMoRan Inc (NYSE:FCX) by 3.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 62,554 shares of the natural resource company’s stock after buying an additional 1,990 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Freeport-McMoRan were worth $645,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group increased its holdings in shares of Freeport-McMoRan by 28.3% during the second quarter. Schroder Investment Management Group now owns 209,758 shares of the natural resource company’s stock worth $3,522,000 after purchasing an additional 46,265 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Freeport-McMoRan by 28.5% during the second quarter. Bank of New York Mellon Corp now owns 27,267,197 shares of the natural resource company’s stock worth $470,631,000 after purchasing an additional 6,041,164 shares during the period. Atria Investments LLC increased its holdings in shares of Freeport-McMoRan by 108.4% during the third quarter. Atria Investments LLC now owns 25,736 shares of the natural resource company’s stock worth $358,000 after purchasing an additional 13,384 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Freeport-McMoRan by 76.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 2,775,000 shares of the natural resource company’s stock worth $38,628,000 after purchasing an additional 1,200,000 shares during the period. Finally, First Hawaiian Bank bought a new position in Freeport-McMoRan in the third quarter valued at approximately $503,000. Institutional investors and hedge funds own 70.49% of the company’s stock.
FCX has been the topic of a number of recent analyst reports. Citigroup decreased their price objective on shares of Freeport-McMoRan from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 17th. Raymond James set a $16.00 price objective on shares of Freeport-McMoRan and gave the company a “hold” rating in a research note on Wednesday, October 24th. ValuEngine cut shares of Freeport-McMoRan from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. BMO Capital Markets set a $13.00 price objective on shares of Freeport-McMoRan and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, B. Riley decreased their price objective on shares of Freeport-McMoRan from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, October 25th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $16.15.
Shares of Freeport-McMoRan stock opened at $12.29 on Thursday. Freeport-McMoRan Inc has a fifty-two week low of $9.60 and a fifty-two week high of $19.74. The company has a current ratio of 3.23, a quick ratio of 1.80 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $16.88 billion, a price-to-earnings ratio of 8.09 and a beta of 2.20.
Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 24th. The natural resource company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). Freeport-McMoRan had a net margin of 12.12% and a return on equity of 15.88%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same quarter in the prior year, the business earned $0.51 EPS. The business’s quarterly revenue was down 26.9% on a year-over-year basis. Equities analysts anticipate that Freeport-McMoRan Inc will post 0.5 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 1st. Shareholders of record on Tuesday, January 15th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, January 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.63%. Freeport-McMoRan’s dividend payout ratio is currently 13.16%.
In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 7,425 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $11.58, for a total value of $85,981.50. Following the sale, the vice president now owns 67,974 shares in the company, valued at $787,138.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.05% of the company’s stock.
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Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.
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