Bailard Inc. lifted its holdings in shares of Freeport-McMoRan (NYSE:FCX) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 190,577 shares of the natural resource company’s stock after buying an additional 7,435 shares during the period. Bailard Inc.’s holdings in Freeport-McMoRan were worth $3,348,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Sound Shore Management Inc. CT raised its holdings in shares of Freeport-McMoRan by 24.0% during the 1st quarter. Sound Shore Management Inc. CT now owns 7,526,256 shares of the natural resource company’s stock worth $132,236,000 after buying an additional 1,456,118 shares in the last quarter. M&T Bank Corp grew its position in Freeport-McMoRan by 11.4% during the 1st quarter. M&T Bank Corp now owns 102,139 shares of the natural resource company’s stock worth $1,793,000 after acquiring an additional 10,422 shares during the last quarter. NTV Asset Management LLC grew its position in Freeport-McMoRan by 12.5% during the 1st quarter. NTV Asset Management LLC now owns 36,148 shares of the natural resource company’s stock worth $635,000 after acquiring an additional 4,008 shares during the last quarter. Trexquant Investment LP bought a new stake in Freeport-McMoRan during the 1st quarter worth $5,554,000. Finally, Meeder Asset Management Inc. grew its position in Freeport-McMoRan by 94.0% during the 1st quarter. Meeder Asset Management Inc. now owns 107,556 shares of the natural resource company’s stock worth $1,889,000 after acquiring an additional 52,117 shares during the last quarter. 70.27% of the stock is owned by institutional investors.
FCX has been the topic of a number of research reports. B. Riley reduced their price objective on Freeport-McMoRan from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, April 26th. CIBC lowered Freeport-McMoRan from a “sector outperform” rating to a “neutral” rating in a research report on Monday, January 22nd. Raymond James reduced their price objective on Freeport-McMoRan from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 25th. Cowen reduced their price objective on Freeport-McMoRan from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 25th. Finally, Stifel Nicolaus boosted their price objective on Freeport-McMoRan from $16.00 to $18.00 and gave the stock a “hold” rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.57.
Freeport-McMoRan opened at $16.78 on Friday, according to Marketbeat Ratings. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 14.34 and a beta of 2.45. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.43 and a current ratio of 2.33. Freeport-McMoRan has a 12 month low of $16.02 and a 12 month high of $16.55.
Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Tuesday, April 24th. The natural resource company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.10). The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.92 billion. Freeport-McMoRan had a net margin of 12.72% and a return on equity of 19.92%. The firm’s revenue for the quarter was up 45.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 earnings per share. equities research analysts expect that Freeport-McMoRan will post 2.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Friday, April 13th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, April 12th. Freeport-McMoRan’s dividend payout ratio is 17.09%.
Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde and El Abra mines in South America.
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