DGS Capital Management LLC Trims Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

DGS Capital Management LLC cut its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 15.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,047 shares of the natural resource company’s stock after selling 1,094 shares during the quarter. DGS Capital Management LLC’s holdings in Freeport-McMoRan were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of FCX. Fairfield Bush & CO. purchased a new stake in Freeport-McMoRan in the first quarter valued at $26,000. KB Financial Partners LLC purchased a new stake in Freeport-McMoRan in the first quarter valued at $26,000. Bruce G. Allen Investments LLC purchased a new stake in Freeport-McMoRan in the fourth quarter valued at $27,000. Retirement Group LLC lifted its position in Freeport-McMoRan by 97.1% in the second quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock valued at $27,000 after acquiring an additional 330 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new stake in Freeport-McMoRan in the third quarter valued at $28,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Down 1.2 %

NYSE FCX opened at $49.41 on Wednesday. The stock has a market capitalization of $70.87 billion, a P/E ratio of 38.91, a P/E/G ratio of 2.26 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. The firm has a 50-day moving average price of $42.87 and a 200 day moving average price of $39.68. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.6 EPS for the current year.

Freeport-McMoRan Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FCX. Scotiabank upped their target price on shares of Freeport-McMoRan from $48.00 to $55.00 and gave the company a “sector outperform” rating in a report on Tuesday, April 9th. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday, April 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and upped their target price for the company from $41.00 to $48.50 in a report on Monday, January 8th. Finally, Raymond James upped their target price on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.71.

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.