Freeport-McMoRan Inc. $FCX Shares Sold by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 78.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,132 shares of the natural resource company’s stock after selling 19,058 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Freeport-McMoRan were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Leo Wealth LLC boosted its stake in Freeport-McMoRan by 2.5% in the fourth quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after acquiring an additional 170 shares in the last quarter. Physician Wealth Advisors Inc. boosted its stake in shares of Freeport-McMoRan by 23.5% during the fourth quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock worth $47,000 after buying an additional 176 shares during the period. Castle Rock Wealth Management LLC boosted its stake in shares of Freeport-McMoRan by 3.3% during the fourth quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock worth $289,000 after buying an additional 180 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Freeport-McMoRan by 11.1% during the fourth quarter. GW&K Investment Management LLC now owns 1,840 shares of the natural resource company’s stock worth $93,000 after buying an additional 184 shares during the period. Finally, Private Trust Co. NA boosted its stake in shares of Freeport-McMoRan by 6.7% during the fourth quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company’s stock worth $158,000 after buying an additional 195 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $70.16 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The company has a market cap of $100.85 billion, a P/E ratio of 37.32, a PEG ratio of 0.86 and a beta of 1.35. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $72.09. The company has a 50-day moving average price of $64.59 and a 200 day moving average price of $59.58.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter last year, the firm earned $0.24 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. Research analysts predict that Freeport-McMoRan Inc. will post 2.51 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued 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 15.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FCX shares. Morgan Stanley reiterated an “equal weight” rating and set a $66.00 target price (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. Scotiabank increased their target price on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the stock a “sector outperform” rating in a research note on Monday. Citigroup reduced their price objective 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. Barclays initiated coverage on shares of Freeport-McMoRan in a research report on Thursday, May 21st. They issued an “overweight” rating and a $77.00 price objective for the company. Finally, CICC Research reduced their price objective on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.