Edmond DE Rothschild Holding S.A. Sells 8,824 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Edmond DE Rothschild Holding S.A. decreased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,356 shares of the natural resource company’s stock after selling 8,824 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Freeport-McMoRan were worth $1,194,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FCX. Erste Asset Management GmbH acquired a new position in Freeport-McMoRan during the 3rd quarter worth approximately $3,233,000. Atom Investors LP bought a new stake in shares of Freeport-McMoRan in the third quarter worth $439,000. Benjamin Edwards Inc. acquired a new position in Freeport-McMoRan during the third quarter worth $2,761,000. Hilltop Holdings Inc. bought a new position in Freeport-McMoRan in the third quarter valued at $641,000. Finally, Janus Henderson Group PLC increased its stake in Freeport-McMoRan by 9.3% in the 3rd quarter. Janus Henderson Group PLC now owns 5,172,219 shares of the natural resource company’s stock valued at $258,193,000 after buying an additional 440,580 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent research reports. BMO Capital Markets reduced their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Thursday, March 6th. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $38.09 on Wednesday. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The firm has a 50-day moving average price of $38.05 and a two-hundred day moving average price of $41.92. The company has a market capitalization of $54.74 billion, a P/E ratio of 29.53, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last issued 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%. Analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.58%. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

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.