Freeport-McMoRan (FCX) Trading Down 5.8%

Freeport-McMoRan Inc (NYSE:FCX)’s share price traded down 5.8% during mid-day trading on Monday . The stock traded as low as $10.54 and last traded at $10.71. 28,155,812 shares were traded during trading, an increase of 28% from the average session volume of 22,040,504 shares. The stock had previously closed at $11.37.

Several equities analysts have recently issued reports on the company. BMO Capital Markets set a $14.00 price target on Freeport-McMoRan and gave the company a “hold” rating in a research report on Friday, April 26th. Zacks Investment Research upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Monday, April 8th. Raymond James reiterated a “market perform” rating and set a $14.00 price target on shares of Freeport-McMoRan in a research report on Friday, April 26th. Barclays lifted their price target on Freeport-McMoRan from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Tuesday, April 9th. Finally, Morgan Stanley cut Freeport-McMoRan from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, February 13th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Freeport-McMoRan currently has a consensus rating of “Hold” and an average target price of $15.01.

The company has a market capitalization of $15.61 billion, a price-to-earnings ratio of 7.05 and a beta of 2.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.79 and a quick ratio of 1.39.



Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, April 25th. The natural resource company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.77 billion. Freeport-McMoRan had a return on equity of 10.31% and a net margin of 9.09%. The business’s revenue was down 22.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. Sell-side analysts anticipate that Freeport-McMoRan Inc will post 0.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is presently 13.16%.

In other news, VP C Donald Whitmire, Jr. sold 7,425 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $11.58, for a total transaction of $85,981.50. Following the completion of the sale, the vice president now directly owns 67,974 shares of the company’s stock, valued at approximately $787,138.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.98% of the company’s stock.

Several institutional investors have recently modified their holdings of FCX. Vanguard Group Inc boosted its position in shares of Freeport-McMoRan by 3.6% in the third quarter. Vanguard Group Inc now owns 154,818,850 shares of the natural resource company’s stock worth $2,155,078,000 after buying an additional 5,375,340 shares during the period. Hexavest Inc. acquired a new stake in shares of Freeport-McMoRan in the first quarter worth $64,964,000. Oregon Public Employees Retirement Fund boosted its position in shares of Freeport-McMoRan by 896.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,109,615 shares of the natural resource company’s stock worth $496,000 after buying an additional 4,596,738 shares during the period. Brandywine Global Investment Management LLC boosted its position in shares of Freeport-McMoRan by 181,362.5% in the fourth quarter. Brandywine Global Investment Management LLC now owns 3,215,516 shares of the natural resource company’s stock worth $33,152,000 after buying an additional 3,213,744 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Freeport-McMoRan by 2,683.4% in the fourth quarter. Two Sigma Investments LP now owns 3,105,016 shares of the natural resource company’s stock worth $32,013,000 after buying an additional 2,993,462 shares during the period. 71.11% of the stock is owned by institutional investors and hedge funds.

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Freeport-McMoRan Company Profile (NYSE:FCX)

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

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