International Assets Investment Management LLC Has $1.09 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

International Assets Investment Management LLC reduced its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 97.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 28,822 shares of the natural resource company’s stock after selling 1,312,513 shares during the quarter. International Assets Investment Management LLC’s holdings in Freeport-McMoRan were worth $1,092,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Oliver Luxxe Assets LLC raised its position in Freeport-McMoRan by 1.8% during the 4th quarter. Oliver Luxxe Assets LLC now owns 142,486 shares of the natural resource company’s stock worth $5,426,000 after purchasing an additional 2,548 shares during the last quarter. Neville Rodie & Shaw Inc. lifted its stake in shares of Freeport-McMoRan by 23.2% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 15,951 shares of the natural resource company’s stock worth $607,000 after acquiring an additional 3,000 shares during the period. GAMMA Investing LLC boosted its holdings in Freeport-McMoRan by 9.2% in the fourth quarter. GAMMA Investing LLC now owns 21,586 shares of the natural resource company’s stock valued at $822,000 after acquiring an additional 1,815 shares during the last quarter. Versant Capital Management Inc increased its position in Freeport-McMoRan by 194.4% during the 4th quarter. Versant Capital Management Inc now owns 1,042 shares of the natural resource company’s stock valued at $40,000 after purchasing an additional 688 shares during the period. Finally, First Financial Bank Trust Division raised its holdings in Freeport-McMoRan by 1.7% during the 4th quarter. First Financial Bank Trust Division now owns 49,041 shares of the natural resource company’s stock worth $1,867,000 after purchasing an additional 801 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 2.7 %

Shares of NYSE FCX opened at $39.77 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. Freeport-McMoRan Inc. has a 1 year low of $36.26 and a 1 year high of $55.24. The stock has a market capitalization of $57.15 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.90 and a beta of 1.86. The company has a 50-day moving average price of $42.09 and a 200-day moving average price of $44.74.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.49 EPS for the current fiscal year.

Freeport-McMoRan Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a $0.15 dividend. This is a positive change from Freeport-McMoRan’s previous quarterly dividend of $0.08. This represents a $0.60 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Wednesday, January 15th. Freeport-McMoRan’s dividend payout ratio is presently 21.90%.

Wall Street Analysts Forecast Growth

FCX has been the subject of several recent analyst reports. Scotiabank decreased their price objective on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday. Jefferies Financial Group lowered their price objective on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Monday. Raymond James upped their target price on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley lowered their target price on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, September 19th. Finally, StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Moderate Buy” and an average target price of $52.96.

Freeport-McMoRan Company Profile

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.