Imprint Wealth LLC Lowers Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Imprint Wealth LLC lessened its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 14.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,907 shares of the natural resource company’s stock after selling 2,030 shares during the quarter. Imprint Wealth LLC’s holdings in Freeport-McMoRan were worth $473,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC increased its position in Freeport-McMoRan by 5.1% in the 4th quarter. FinTrust Capital Advisors LLC now owns 5,252 shares of the natural resource company’s stock valued at $200,000 after acquiring an additional 253 shares during the period. Fulton Bank N.A. boosted its stake in Freeport-McMoRan by 2.6% during the 4th quarter. Fulton Bank N.A. now owns 10,606 shares of the natural resource company’s stock valued at $451,000 after purchasing an additional 267 shares in the last quarter. Drive Wealth Management LLC boosted its stake in Freeport-McMoRan by 2.8% during the 4th quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock valued at $419,000 after purchasing an additional 267 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Freeport-McMoRan by 38.8% during the 4th quarter. Sound Income Strategies LLC now owns 965 shares of the natural resource company’s stock valued at $41,000 after purchasing an additional 270 shares in the last quarter. Finally, PFG Investments LLC boosted its stake in Freeport-McMoRan by 1.7% during the 4th quarter. PFG Investments LLC now owns 16,844 shares of the natural resource company’s stock valued at $717,000 after purchasing an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 2.0 %

Shares of FCX traded down $0.98 during mid-day trading on Tuesday, reaching $49.04. The company’s stock had a trading volume of 8,876,380 shares, compared to its average volume of 13,520,797. The business has a fifty day moving average of $42.69 and a 200 day moving average of $39.59. The company has a market cap of $70.34 billion, a price-to-earnings ratio of 39.39, a price-to-earnings-growth ratio of 2.24 and a beta of 2.04. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $52.42. 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 released its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, analysts forecast that Freeport-McMoRan Inc. will post 1.6 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. Freeport-McMoRan’s dividend payout ratio is 23.62%.

Analyst Ratings Changes

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