Trilogy Capital Inc. Lowers Stake in Freeport-McMoRan Inc. $FCX

Trilogy Capital Inc. lessened its position in Freeport-McMoRan Inc. (NYSE:FCX) by 21.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,197 shares of the natural resource company’s stock after selling 48,249 shares during the period. Trilogy Capital Inc.’s holdings in Freeport-McMoRan were worth $10,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV lifted its position in Freeport-McMoRan by 49.0% during the fourth quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock worth $11,267,000 after buying an additional 73,002 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Freeport-McMoRan in the 4th quarter valued at about $8,857,000. Wellington Management Group LLP grew its holdings in Freeport-McMoRan by 190.9% in the 3rd 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 buying an additional 23,950,557 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Freeport-McMoRan by 426.3% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 81,892 shares of the natural resource company’s stock valued at $3,212,000 after acquiring an additional 66,331 shares during the last quarter. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. increased its stake in shares of Freeport-McMoRan by 175.4% during the 4th quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company’s stock valued at $70,078,000 after acquiring an additional 878,760 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. BMO Capital Markets upped their price target on shares of Freeport-McMoRan from $68.00 to $78.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Barclays assumed coverage on shares of Freeport-McMoRan in a report on Thursday, May 21st. They issued an “overweight” rating and a $77.00 price target on the stock. Finally, Morgan Stanley reissued an “equal weight” rating and set a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $68.27.

Freeport-McMoRan Trading Down 0.8%

FCX opened at $62.31 on Friday. The firm’s 50 day moving average is $64.61 and its 200-day moving average is $60.71. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $72.28. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $89.57 billion, a P/E ratio of 33.14, a P/E/G ratio of 0.75 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The business had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. Analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a $0.075 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s payout ratio is currently 15.96%.

Freeport-McMoRan Profile

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.