Capital International Ltd. CA Sells 30,206 Shares of Freeport-McMoRan Inc. $FCX

Capital International Ltd. CA cut its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,502 shares of the natural resource company’s stock after selling 30,206 shares during the period. Capital International Ltd. CA’s holdings in Freeport-McMoRan were worth $7,847,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. KBC Group NV boosted its holdings in Freeport-McMoRan by 49.0% in the fourth quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock valued at $11,267,000 after acquiring an additional 73,002 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Freeport-McMoRan in the fourth quarter valued at approximately $8,857,000. Wellington Management Group LLP boosted its holdings in Freeport-McMoRan by 190.9% in the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after acquiring an additional 23,950,557 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Freeport-McMoRan by 426.3% in the third quarter. Dynamic Technology Lab Private Ltd now owns 81,892 shares of the natural resource company’s stock valued at $3,212,000 after acquiring an additional 66,331 shares during the last quarter. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. boosted its holdings in Freeport-McMoRan by 175.4% in the fourth quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company’s stock valued at $70,078,000 after acquiring an additional 878,760 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $63.37 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.09. The stock’s 50 day moving average is $63.48 and its 200-day moving average is $58.17. The firm has a market capitalization of $91.10 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 0.76 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the firm earned $0.24 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is presently 15.96%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FCX. Raymond James Financial cut their price target on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Sanford C. Bernstein cut their price target on Freeport-McMoRan from $54.00 to $53.50 and set a “market perform” rating on the stock in a report on Friday, April 24th. JPMorgan Chase & Co. cut their price target on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Barclays began coverage on Freeport-McMoRan in a report on Thursday, May 21st. They set an “overweight” rating and a $77.00 price target on the stock. Finally, CICC Research cut their price target on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating on the stock in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.04.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.