Faithward Advisors LLC Sells 42,667 Shares of Freeport-McMoRan Inc. $FCX

Faithward Advisors LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 86.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,878 shares of the natural resource company’s stock after selling 42,667 shares during the period. Faithward Advisors LLC’s holdings in Freeport-McMoRan were worth $349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FCX. Oarsman Capital Inc. increased its position in shares of Freeport-McMoRan by 7.1% during the fourth quarter. Oarsman Capital Inc. now owns 55,928 shares of the natural resource company’s stock valued at $2,841,000 after acquiring an additional 3,717 shares in the last quarter. Thornburg Investment Management Inc. increased its position in shares of Freeport-McMoRan by 50.7% during the fourth quarter. Thornburg Investment Management Inc. now owns 2,794,794 shares of the natural resource company’s stock valued at $141,948,000 after acquiring an additional 939,941 shares in the last quarter. Tamar Securities LLC increased its position in shares of Freeport-McMoRan by 6.6% during the fourth quarter. Tamar Securities LLC now owns 496,712 shares of the natural resource company’s stock valued at $25,228,000 after acquiring an additional 30,684 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Freeport-McMoRan by 7.3% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 160,022 shares of the natural resource company’s stock valued at $8,128,000 after acquiring an additional 10,842 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in shares of Freeport-McMoRan by 39.3% during the fourth quarter. Panagora Asset Management Inc. now owns 2,870,856 shares of the natural resource company’s stock valued at $145,811,000 after acquiring an additional 810,537 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.0%

Shares of FCX stock opened at $70.16 on Wednesday. Freeport-McMoRan Inc. has a 12-month low of $35.15 and a 12-month high of $72.09. 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 firm’s 50 day moving average is $64.59 and its 200 day moving average is $59.58. The stock has a market capitalization of $100.85 billion, a P/E ratio of 37.32, a P/E/G ratio of 0.86 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 (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The company had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. Research analysts expect that Freeport-McMoRan Inc. will post 2.51 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced 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 0.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 15.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Citigroup reduced 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. Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Saturday. Freedom Capital raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, Barclays assumed coverage on shares of Freeport-McMoRan in a research report on Thursday, May 21st. They set an “overweight” rating and a $77.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.31.

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.