Generali Investments Management Co LLC Sells 1,887 Shares of Freeport-McMoRan Inc. $FCX

Generali Investments Management Co LLC decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 9.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,980 shares of the natural resource company’s stock after selling 1,887 shares during the period. Generali Investments Management Co LLC’s holdings in Freeport-McMoRan were worth $822,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FCX. Vanguard Group Inc. raised its position in shares of Freeport-McMoRan by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 125,042,285 shares of the natural resource company’s stock valued at $4,734,101,000 after purchasing an additional 1,822,987 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Freeport-McMoRan by 17.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 37,547,489 shares of the natural resource company’s stock worth $1,421,549,000 after buying an additional 5,661,958 shares in the last quarter. Amundi raised its holdings in Freeport-McMoRan by 28.1% during the first quarter. Amundi now owns 27,635,497 shares of the natural resource company’s stock valued at $1,046,280,000 after acquiring an additional 6,054,537 shares during the period. Dimensional Fund Advisors LP raised its holdings in Freeport-McMoRan by 16.0% during the first quarter. Dimensional Fund Advisors LP now owns 13,162,058 shares of the natural resource company’s stock valued at $498,270,000 after acquiring an additional 1,815,285 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Freeport-McMoRan by 21.7% in the first quarter. Goldman Sachs Group Inc. now owns 11,968,781 shares of the natural resource company’s stock valued at $453,138,000 after acquiring an additional 2,133,846 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Down 0.8%

Shares of NYSE FCX opened at $40.20 on Friday. The firm’s 50-day moving average price is $41.62 and its 200-day moving average price is $41.77. The company has a current ratio of 2.45, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $57.73 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 0.94 and a beta of 1.64. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $49.12.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Thursday, October 23rd. The natural resource company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. Freeport-McMoRan had a return on equity of 7.84% and a net margin of 7.97%.The company had revenue of $6.97 billion during the quarter, compared to analyst estimates of $6.74 billion. During the same quarter last year, the business posted $0.38 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Wednesday, October 15th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, October 15th. Freeport-McMoRan’s dividend payout ratio is presently 21.13%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FCX. Dbs Bank cut their target price on Freeport-McMoRan from $51.00 to $48.00 in a research report on Thursday, October 2nd. Morgan Stanley dropped their price target on Freeport-McMoRan from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. BNP Paribas Exane reduced their price objective on shares of Freeport-McMoRan from $56.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Wall Street Zen downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, BMO Capital Markets cut their target price on shares of Freeport-McMoRan from $54.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, September 24th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.01.

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.