Freeport-McMoRan Inc. $FCX Stock Position Lowered by Caisse Des Depots ET Consignations

Caisse Des Depots ET Consignations cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 9.3% during the fourth quarter, Holdings Channel reports. The firm owned 105,733 shares of the natural resource company’s stock after selling 10,804 shares during the quarter. Caisse Des Depots ET Consignations’ holdings in Freeport-McMoRan were worth $5,370,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC increased its stake in Freeport-McMoRan by 24.2% in the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after purchasing an additional 2,882 shares in the last quarter. Bison Wealth LLC increased its stake in Freeport-McMoRan by 5.6% in the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after purchasing an additional 507 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Freeport-McMoRan in the 2nd quarter worth about $560,000. Brown Advisory Inc. increased its stake in Freeport-McMoRan by 27.0% in the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after purchasing an additional 2,648 shares in the last quarter. Finally, Jump Financial LLC increased its stake in Freeport-McMoRan by 42.7% in the 2nd quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after purchasing an additional 14,992 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Freeport-McMoRan news, EVP Douglas N. Currault II sold 75,000 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total value of $4,839,000.00. Following the transaction, the executive vice president directly owned 219,181 shares of the company’s stock, valued at $14,141,558.12. The trade was a 25.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Ellie L. Mikes sold 11,000 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total value of $682,330.00. Following the completion of the transaction, the chief accounting officer directly owned 40,773 shares in the company, valued at approximately $2,529,149.19. This represents a 21.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 565,145 shares of company stock worth $35,839,918. 0.75% of the stock is currently owned by company insiders.

Freeport-McMoRan Stock Performance

Shares of NYSE FCX opened at $56.64 on Friday. The business’s 50-day moving average price is $62.16 and its two-hundred day moving average price is $54.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan Inc. has a one year low of $35.15 and a one year high of $70.96. The company has a market capitalization of $81.40 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 0.69 and a beta of 1.32.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. Analysts anticipate that Freeport-McMoRan Inc. will post 2.55 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s payout ratio is currently 15.96%.

Analyst Upgrades and Downgrades

FCX has been the topic of a number of analyst reports. Argus raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Friday, February 13th. BNP Paribas Exane dropped their price target on Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Freeport-McMoRan in a research note on Tuesday, April 21st. JPMorgan Chase & Co. reduced their price objective on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, April 27th. Finally, The Goldman Sachs Group reduced their price objective on Freeport-McMoRan from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.19.

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.