F m Investments LLC Decreases Stock Holdings in Freeport-McMoRan Inc. $FCX

F m Investments LLC trimmed its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 55.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,743 shares of the natural resource company’s stock after selling 47,741 shares during the quarter. F m Investments LLC’s holdings in Freeport-McMoRan were worth $1,968,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV increased its position in shares of Freeport-McMoRan by 49.0% during the fourth quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock valued at $11,267,000 after acquiring an additional 73,002 shares during the last quarter. Great Lakes Advisors LLC increased its position in shares of Freeport-McMoRan by 8.0% during the third quarter. Great Lakes Advisors LLC now owns 1,551,258 shares of the natural resource company’s stock valued at $60,840,000 after acquiring an additional 115,285 shares during the last quarter. Summit Global Investments grew its holdings in Freeport-McMoRan by 278.4% during the third quarter. Summit Global Investments now owns 46,157 shares of the natural resource company’s stock valued at $1,810,000 after purchasing an additional 33,959 shares during the period. Wellington Management Group LLP grew its holdings in Freeport-McMoRan by 190.9% during 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 purchasing an additional 23,950,557 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Freeport-McMoRan during the third quarter valued at $1,066,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $61.65 on Monday. Freeport-McMoRan Inc. has a one year low of $35.15 and a one year high of $70.96. The business has a fifty day moving average price of $61.79 and a 200-day moving average price of $54.79. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The firm has a market capitalization of $88.60 billion, a P/E ratio of 32.79, a PEG ratio of 0.74 and a beta of 1.32.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same period last year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Dividend Announcement

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

Trending Headlines about Freeport-McMoRan

Here are the key news stories impacting Freeport-McMoRan this week:

• Positive Sentiment: Zacks Research lifted earnings estimates for multiple future periods, signaling a stronger profit outlook for Freeport-McMoRan.
• Positive Sentiment: Reports that the Grasberg mine may return to full production in 2028 support the longer-term copper production story for FCX.
• Neutral Sentiment: The stock’s recent six-month gain reflects stronger copper prices and earnings, but this move may already reflect much of the optimism. Article Title
• Negative Sentiment: Higher costs and softer production volumes could pressure near-term results and limit upside in FCX shares. Article Title

Insider Activity at Freeport-McMoRan

In related news, EVP Douglas N. Currault II sold 75,000 shares of Freeport-McMoRan stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.52, for a total transaction of $4,839,000.00. Following the completion of the sale, the executive vice president owned 219,181 shares of the company’s stock, valued at approximately $14,141,558.12. This trade represents a 25.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephen T. Higgins sold 29,654 shares of Freeport-McMoRan stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.00, for a total value of $1,868,202.00. Following the sale, the chief accounting officer directly owned 76,445 shares of the company’s stock, valued at $4,816,035. This represents a 27.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 565,145 shares of company stock valued at $35,839,918 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FCX has been the subject of several research reports. Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Argus raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Friday, February 13th. CICC Research reduced their price objective on Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a report on Tuesday, April 28th. 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 report on Friday, April 24th. Finally, Raymond James Financial reduced their price objective on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Freeport-McMoRan currently has an average rating of “Moderate Buy” and an average target price of $65.14.

Freeport-McMoRan Company 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.