Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. cut its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,959 shares of the natural resource company’s stock after selling 27,455 shares during the period. Philadelphia Trust Co.’s holdings in Freeport-McMoRan were worth $5,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of FCX. Vanguard Group Inc. increased its holdings in shares of Freeport-McMoRan by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock valued at $4,692,191,000 after purchasing an additional 642,776 shares during the period. Geode Capital Management LLC raised its position in Freeport-McMoRan by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company’s stock worth $1,122,922,000 after buying an additional 688,240 shares during the last quarter. Franklin Resources Inc. lifted its stake in Freeport-McMoRan by 8.0% during the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company’s stock valued at $1,123,445,000 after acquiring an additional 2,191,926 shares during the period. Amundi boosted its holdings in shares of Freeport-McMoRan by 30.2% in the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock valued at $857,305,000 after acquiring an additional 5,001,531 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Freeport-McMoRan by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company’s stock worth $619,682,000 after acquiring an additional 4,488,210 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

FCX has been the topic of several recent research reports. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets cut their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Scotiabank lowered their price target on shares of Freeport-McMoRan from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 7th. Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, March 6th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.88.

Freeport-McMoRan Price Performance

FCX stock opened at $33.36 on Friday. Freeport-McMoRan Inc. has a 1 year low of $27.66 and a 1 year high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The firm has a market capitalization of $47.94 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The business has a 50 day simple moving average of $37.10 and a 200-day simple moving average of $41.06.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.80%. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.