Savvy Advisors Inc. Sells 1,658 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Savvy Advisors Inc. lessened its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 23.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,403 shares of the natural resource company’s stock after selling 1,658 shares during the quarter. Savvy Advisors Inc.’s holdings in Freeport-McMoRan were worth $206,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Stamos Capital Partners L.P. lifted its holdings in shares of Freeport-McMoRan by 70.0% during the fourth quarter. Stamos Capital Partners L.P. now owns 13,020 shares of the natural resource company’s stock worth $496,000 after purchasing an additional 5,360 shares during the period. BTG Pactual Asset Management US LLC lifted its holdings in Freeport-McMoRan by 18.4% during the 4th quarter. BTG Pactual Asset Management US LLC now owns 18,007 shares of the natural resource company’s stock worth $686,000 after buying an additional 2,800 shares during the period. Sagespring Wealth Partners LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $2,032,000. Townsquare Capital LLC increased its stake in shares of Freeport-McMoRan by 14.5% in the fourth quarter. Townsquare Capital LLC now owns 220,025 shares of the natural resource company’s stock valued at $8,379,000 after buying an additional 27,862 shares during the period. Finally, Fortis Capital Advisors LLC raised its position in shares of Freeport-McMoRan by 48.7% during the fourth quarter. Fortis Capital Advisors LLC now owns 17,255 shares of the natural resource company’s stock worth $657,000 after acquiring an additional 5,651 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

FCX opened at $33.34 on Wednesday. The company has a market cap of $47.91 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 0.87 and a beta of 1.71. The company’s fifty day moving average price is $36.96 and its two-hundred day moving average price is $40.81. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS 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. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their target price for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Finally, Scotiabank decreased their target price on Freeport-McMoRan from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 7th. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.12.

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.