Caption Management LLC decreased its position in shares of Freeport-McMoRan Inc (NYSE:FCX) by 33.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,000 shares of the natural resource company’s stock after selling 24,000 shares during the period. Caption Management LLC’s holdings in Freeport-McMoRan were worth $495,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC boosted its position in Freeport-McMoRan by 21.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 5,120 shares of the natural resource company’s stock valued at $52,000 after purchasing an additional 908 shares during the last quarter. NuWave Investment Management LLC acquired a new stake in Freeport-McMoRan during the fourth quarter valued at $93,000. FNY Investment Advisers LLC acquired a new stake in Freeport-McMoRan during the fourth quarter valued at $101,000. First National Trust Co acquired a new stake in Freeport-McMoRan during the fourth quarter valued at $104,000. Finally, Bramshill Investments LLC acquired a new stake in Freeport-McMoRan during the third quarter valued at $105,000. 70.02% of the stock is owned by hedge funds and other institutional investors.
NYSE:FCX traded up $0.20 during trading hours on Friday, hitting $13.22. 23,878,600 shares of the stock were exchanged, compared to its average volume of 26,438,037. Freeport-McMoRan Inc has a twelve month low of $9.60 and a twelve month high of $19.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.80 and a current ratio of 3.22. The company has a market cap of $18.87 billion, a price-to-earnings ratio of 8.70 and a beta of 2.20.
Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 24th. The natural resource company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.07). Freeport-McMoRan had a return on equity of 15.77% and a net margin of 12.12%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm’s quarterly revenue was down 26.9% compared to the same quarter last year. On average, equities analysts predict that Freeport-McMoRan Inc will post 0.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Tuesday, January 15th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Monday, January 14th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 13.16%.
A number of analysts recently issued reports on the company. Morgan Stanley cut Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 13th. Citigroup raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.00 to $16.00 in a research report on Tuesday. Royal Bank of Canada cut Freeport-McMoRan from a “sector perform” rating to an “underperform” rating and set a $12.20 price target for the company. in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Zacks Investment Research raised Freeport-McMoRan from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 14th. Finally, ValuEngine cut Freeport-McMoRan from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 8th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. Freeport-McMoRan presently has a consensus rating of “Hold” and a consensus target price of $16.26.
In other news, VP C Donald Whitmire, Jr. sold 7,425 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $11.58, for a total value of $85,981.50. Following the transaction, the vice president now owns 67,974 shares of the company’s stock, valued at approximately $787,138.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.05% of the company’s stock.
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Freeport-McMoRan Company Profile
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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