Alerus Financial NA Sells 27,392 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Alerus Financial NA cut its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 68.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,905 shares of the natural resource company’s stock after selling 27,392 shares during the period. Alerus Financial NA’s holdings in Freeport-McMoRan were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Asset Planning Inc acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $25,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC grew its holdings in shares of Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after buying an additional 600 shares in the last quarter. Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the fourth quarter worth $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 4.0 %

Shares of FCX stock opened at $38.36 on Friday. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The firm has a 50-day moving average price of $38.14 and a 200 day moving average price of $41.96. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $55.13 billion, a P/E ratio of 29.74, a P/E/G ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Research analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.56%. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of research analyst reports. Argus cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Scotiabank cut their target price on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. BMO Capital Markets dropped their target price on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price target for the company from $48.00 to $52.00 in a report on Thursday, March 20th. Finally, Dbs Bank raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

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.