Lindbrook Capital LLC Sells 664 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Lindbrook Capital LLC decreased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,945 shares of the natural resource company’s stock after selling 664 shares during the quarter. Lindbrook Capital LLC’s holdings in Freeport-McMoRan were worth $338,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Fairfield Bush & CO. bought a new position in Freeport-McMoRan during the first quarter worth $26,000. Bruce G. Allen Investments LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth about $27,000. KB Financial Partners LLC bought a new position in shares of Freeport-McMoRan during the 1st quarter worth about $26,000. Retirement Group LLC raised its position in shares of Freeport-McMoRan by 97.1% during the second quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock valued at $27,000 after buying an additional 330 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $28,000. 80.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FCX shares. Scotiabank upped their price target on Freeport-McMoRan from $48.00 to $55.00 and gave the company a “sector outperform” rating in a report on Tuesday, April 9th. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, April 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price target on shares of Freeport-McMoRan in a report on Thursday, January 25th. JPMorgan Chase & Co. raised their price objective on shares of Freeport-McMoRan from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, April 17th. Finally, Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and upped their target price for the company from $41.00 to $48.50 in a research note on Monday, January 8th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.23.

Read Our Latest Analysis on Freeport-McMoRan

Freeport-McMoRan Price Performance

Shares of Freeport-McMoRan stock opened at $49.61 on Monday. Freeport-McMoRan Inc. has a 1-year low of $32.83 and a 1-year high of $52.42. The firm’s 50-day moving average price is $43.57 and its two-hundred day moving average price is $39.96. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $71.16 billion, a price-to-earnings ratio of 39.06, a P/E/G ratio of 2.28 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCXGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.57 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is currently 23.62%.

About Freeport-McMoRan

(Free Report)

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.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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