Clal Insurance Enterprises Holdings Ltd Has $31.24 Million Position in Freeport-McMoRan Inc. $FCX

Clal Insurance Enterprises Holdings Ltd cut its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 27.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 615,000 shares of the natural resource company’s stock after selling 235,000 shares during the quarter. Clal Insurance Enterprises Holdings Ltd’s holdings in Freeport-McMoRan were worth $31,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of FCX. JPL Wealth Management LLC acquired a new position in Freeport-McMoRan in the third quarter worth about $33,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $38,000. Modus Advisors LLC bought a new stake in Freeport-McMoRan in the 4th quarter valued at approximately $40,000. Key Financial Inc grew its holdings in shares of Freeport-McMoRan by 32.3% in the 4th quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock valued at $42,000 after acquiring an additional 202 shares in the last quarter. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $43,000. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $68.28 on Friday. The firm has a market capitalization of $98.15 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. Freeport-McMoRan Inc. has a 12-month low of $35.15 and a 12-month high of $72.09. The firm has a 50 day moving average of $64.24 and a 200 day moving average of $59.05. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28.

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

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were paid a $0.075 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 15.96%.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of analyst reports. Citigroup dropped their price target on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Morgan Stanley restated an “equal weight” rating and issued a $66.00 target price (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Argus upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday, February 13th. Scotiabank dropped their target price on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, April 24th. Finally, Wall Street Zen upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.86.

Freeport-McMoRan 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.