Lindbrook Capital LLC Sells 664 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Lindbrook Capital LLC lowered its position in Freeport-McMoRan Inc. (NYSE:FCX) by 7.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,945 shares of the natural resource company’s stock after selling 664 shares during the quarter. Lindbrook Capital LLC’s holdings in Freeport-McMoRan were worth $338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in shares of Freeport-McMoRan during the 1st quarter valued at approximately $26,000. Bruce G. Allen Investments LLC bought a new stake in Freeport-McMoRan during the 4th quarter valued at $27,000. KB Financial Partners LLC purchased a new stake in shares of Freeport-McMoRan during the first quarter worth $26,000. Retirement Group LLC boosted its holdings in shares of Freeport-McMoRan by 97.1% in the second quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock worth $27,000 after acquiring an additional 330 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new position in shares of Freeport-McMoRan in the fourth quarter valued at $28,000. 80.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on FCX. JPMorgan Chase & Co. increased their price objective on Freeport-McMoRan from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $41.00 to $48.50 in a research report on Monday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, April 9th. Finally, Scotiabank boosted their price target on shares of Freeport-McMoRan from $48.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Tuesday, April 9th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and a consensus price target of $49.23.

Freeport-McMoRan Price Performance

NYSE FCX opened at $49.61 on Monday. The company has a 50-day moving average price of $43.57 and a 200-day moving average price of $39.96. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $71.16 billion, a P/E ratio of 39.06, a PEG ratio of 2.28 and a beta of 2.04. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $52.42.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The business’s quarterly revenue was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.57 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. Freeport-McMoRan’s dividend payout ratio is currently 23.62%.

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.