Freeport-McMoRan Inc. $FCX Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its position in Freeport-McMoRan Inc. (NYSE:FCX) by 5.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 165,277 shares of the natural resource company’s stock after selling 8,886 shares during the quarter. Yousif Capital Management LLC’s holdings in Freeport-McMoRan were worth $8,394,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in Freeport-McMoRan by 190.9% in the third quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after acquiring an additional 23,950,557 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Freeport-McMoRan by 89.4% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 17,569,169 shares of the natural resource company’s stock valued at $761,623,000 after acquiring an additional 8,292,873 shares during the period. Voya Investment Management LLC lifted its holdings in Freeport-McMoRan by 289.0% in the third quarter. Voya Investment Management LLC now owns 3,844,504 shares of the natural resource company’s stock valued at $150,781,000 after acquiring an additional 2,856,302 shares during the period. AQR Capital Management LLC increased its position in shares of Freeport-McMoRan by 205.0% in the second quarter. AQR Capital Management LLC now owns 4,186,621 shares of the natural resource company’s stock valued at $181,490,000 after buying an additional 2,813,845 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of Freeport-McMoRan in the second quarter valued at $108,920,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

FCX stock opened at $65.10 on Thursday. Freeport-McMoRan Inc. has a 52-week low of $28.95 and a 52-week high of $69.75. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $93.56 billion, a PE ratio of 43.11, a P/E/G ratio of 0.72 and a beta of 1.48. The stock’s 50 day moving average is $61.29 and its two-hundred day moving average is $51.54.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.19. Freeport-McMoRan had a return on equity of 8.50% and a net margin of 8.50%.The business had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the previous year, the business earned $0.31 EPS. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be given a dividend of $0.075 per share. The ex-dividend date is Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s payout ratio is currently 19.87%.

Insider Buying and Selling at Freeport-McMoRan

In related news, Chairman Richard C. Adkerson sold 248,031 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $62.80, for a total transaction of $15,576,346.80. Following the completion of the transaction, the chairman owned 3,509,119 shares in the company, valued at $220,372,673.20. The trade was a 6.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Ellie L. Mikes sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $62.03, for a total value of $682,330.00. Following the transaction, the chief accounting officer owned 40,773 shares of the company’s stock, valued at $2,529,149.19. This represents a 21.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 565,145 shares of company stock worth $35,839,918. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of research analyst reports. HSBC raised their price target on Freeport-McMoRan from $48.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Citigroup raised their price target on Freeport-McMoRan from $48.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. BMO Capital Markets lifted their price objective on Freeport-McMoRan from $55.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company boosted their price target on Freeport-McMoRan from $55.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.75.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.