Blair William & Co. IL Has $2.50 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Blair William & Co. IL cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,704 shares of the natural resource company’s stock after selling 9,557 shares during the period. Blair William & Co. IL’s holdings in Freeport-McMoRan were worth $2,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FCX. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $25,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC increased its stake in shares of Freeport-McMoRan by 487.8% in the 4th 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 during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Freeport-McMoRan during the 4th quarter worth approximately $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 0.6 %

Shares of FCX stock opened at $38.09 on Wednesday. The firm’s fifty day moving average price is $38.05 and its two-hundred day moving average price is $41.92. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $54.74 billion, a P/E ratio of 29.53, a PEG ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last released its 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 return on equity of 7.50% and a net margin of 7.42%. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS 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. Investors of record on Tuesday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. Freeport-McMoRan’s dividend payout ratio is presently 23.26%.

Wall Street Analyst Weigh In

FCX has been the subject of several recent analyst reports. Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. BMO Capital Markets decreased their target price on 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, March 6th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus target price of $52.04.

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.