Capital International Inc. CA Decreases Stake in Freeport-McMoRan Inc. $FCX

Capital International Inc. CA lowered its position in Freeport-McMoRan Inc. (NYSE:FCX) by 50.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,028 shares of the natural resource company’s stock after selling 141,787 shares during the quarter. Capital International Inc. CA’s holdings in Freeport-McMoRan were worth $7,163,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Leo Wealth LLC grew its position in shares of Freeport-McMoRan by 2.5% in the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after buying an additional 170 shares during the last quarter. Physician Wealth Advisors Inc. raised its stake in Freeport-McMoRan by 23.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock worth $47,000 after acquiring an additional 176 shares in the last quarter. Castle Rock Wealth Management LLC raised its stake in Freeport-McMoRan by 3.3% during the 4th quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock worth $289,000 after acquiring an additional 180 shares in the last quarter. Private Trust Co. NA raised its stake in Freeport-McMoRan by 6.7% during the 4th quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company’s stock worth $158,000 after acquiring an additional 195 shares in the last quarter. Finally, Key Financial Inc raised its stake in Freeport-McMoRan by 32.3% during the 4th quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock worth $42,000 after acquiring an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $63.83 on Tuesday. The firm has a market cap of $91.76 billion, a price-to-earnings ratio of 33.95, a price-to-earnings-growth ratio of 0.76 and a beta of 1.35. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average is $63.63 and its two-hundred day moving average is $58.48. Freeport-McMoRan Inc. has a 12-month low of $35.15 and a 12-month high of $72.09.

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

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were issued a $0.075 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 15.96%.

Wall Street Analyst Weigh In

FCX has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Freeport-McMoRan from $52.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. The Goldman Sachs Group lifted their price target on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Scotiabank reduced their price target on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. BNP Paribas Exane reduced their price target on shares of Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Finally, Weiss Ratings upgraded shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average price target of $66.50.

About Freeport-McMoRan

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.