Shay Capital LLC Has $409,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Shay Capital LLC decreased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 28.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,750 shares of the natural resource company’s stock after selling 4,250 shares during the period. Shay Capital LLC’s holdings in Freeport-McMoRan were worth $409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FCX. SeaCrest Wealth Management LLC lifted its position in Freeport-McMoRan by 1.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company’s stock worth $727,000 after buying an additional 307 shares in the last quarter. Park Avenue Securities LLC lifted its position in Freeport-McMoRan by 17.0% during the 4th quarter. Park Avenue Securities LLC now owns 25,714 shares of the natural resource company’s stock worth $979,000 after buying an additional 3,728 shares in the last quarter. Carnegie Investment Counsel raised its holdings in Freeport-McMoRan by 5.1% during the 4th quarter. Carnegie Investment Counsel now owns 49,280 shares of the natural resource company’s stock worth $1,877,000 after purchasing an additional 2,404 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Freeport-McMoRan by 7.4% during the 4th quarter. Ritholtz Wealth Management now owns 17,954 shares of the natural resource company’s stock worth $684,000 after purchasing an additional 1,238 shares during the last quarter. Finally, Retireful LLC bought a new stake in Freeport-McMoRan during the 4th quarter worth about $278,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock opened at $38.01 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock has a market cap of $54.63 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The stock has a 50-day moving average of $36.51 and a 200-day moving average of $38.95. Freeport-McMoRan Inc. has a one year low of $27.66 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Freeport-McMoRan’s revenue was down 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. As a group, sell-side analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. Freeport-McMoRan’s payout ratio is 24.79%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $50.00 price objective (up from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Hsbc Global Res raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. UBS Group dropped their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Finally, Scotiabank boosted their price objective on Freeport-McMoRan from $40.00 to $43.00 and gave the stock a “sector perform” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average target price of $48.36.

About Freeport-McMoRan

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.