Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC lessened its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 4.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,953 shares of the natural resource company’s stock after selling 358 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Freeport-McMoRan were worth $303,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. PFG Investments LLC grew its position in Freeport-McMoRan by 1.3% in the fourth quarter. PFG Investments LLC now owns 22,910 shares of the natural resource company’s stock worth $872,000 after acquiring an additional 283 shares during the period. Palogic Value Management L.P. lifted its position in Freeport-McMoRan by 1.5% in the fourth quarter. Palogic Value Management L.P. now owns 20,277 shares of the natural resource company’s stock valued at $772,000 after buying an additional 292 shares during the last quarter. SeaCrest Wealth Management LLC boosted its stake in Freeport-McMoRan by 1.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock worth $727,000 after buying an additional 307 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Freeport-McMoRan by 0.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 36,514 shares of the natural resource company’s stock valued at $1,451,000 after acquiring an additional 309 shares during the last quarter. Finally, Inspire Advisors LLC raised its stake in shares of Freeport-McMoRan by 2.6% in the 4th quarter. Inspire Advisors LLC now owns 12,965 shares of the natural resource company’s stock valued at $494,000 after acquiring an additional 325 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 0.2 %

NYSE FCX opened at $33.31 on Thursday. The company has a market capitalization of $47.87 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $55.24. The company’s fifty day moving average price is $36.86 and its two-hundred day moving average price is $40.75.

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

Freeport-McMoRan Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FCX shares. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Raymond James raised their price objective on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. Wolfe Research raised shares of Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.39.

About Freeport-McMoRan

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.