Financial Management Professionals Inc. Sells 2,598 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Financial Management Professionals Inc. reduced its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 62.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,580 shares of the natural resource company’s stock after selling 2,598 shares during the period. Financial Management Professionals Inc.’s holdings in Freeport-McMoRan were worth $60,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Matrix Trust Co bought a new stake in Freeport-McMoRan in the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Freeport-McMoRan in the 2nd quarter worth approximately $27,000. Laurel Wealth Advisors LLC raised its holdings in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after acquiring an additional 600 shares in the last quarter. Godsey & Gibb Inc. lifted its stake in Freeport-McMoRan by 150.4% in the third quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 346 shares during the period. Finally, Continuum Advisory LLC lifted its stake in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $40.27 on Monday. Freeport-McMoRan Inc. has a fifty-two week low of $36.26 and a fifty-two week high of $55.24. The company has a market capitalization of $57.86 billion, a PE ratio of 29.39, a P/E/G ratio of 2.13 and a beta of 1.87. The company has a 50 day moving average price of $41.25 and a 200-day moving average price of $44.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.45 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis. As a group, equities analysts forecast that Freeport-McMoRan Inc. will post 1.46 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. Freeport-McMoRan’s dividend payout ratio is currently 21.90%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Raymond James lifted their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lowered their price objective on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Scotiabank cut their target price on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, January 6th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.42.

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.