Freeport-McMoRan Inc. $FCX Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. decreased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 339,070 shares of the natural resource company’s stock after selling 24,332 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Freeport-McMoRan were worth $17,218,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of FCX. Steigerwald Gordon & Koch Inc. bought a new position in shares of Freeport-McMoRan during the 3rd quarter valued at about $25,000. Salomon & Ludwin LLC lifted its position in shares of Freeport-McMoRan by 1,962.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after acquiring an additional 687 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Freeport-McMoRan in the third quarter valued at $33,000. YANKCOM Partnership boosted its position in shares of Freeport-McMoRan by 83.3% in the fourth quarter. YANKCOM Partnership now owns 869 shares of the natural resource company’s stock worth $44,000 after buying an additional 395 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Freeport-McMoRan during the third quarter valued at $36,000. Institutional investors own 80.77% of the company’s stock.

Analysts Set New Price Targets

FCX has been the topic of a number of research reports. Freedom Capital raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Saturday, February 21st. CICC Research raised their price target on shares of Freeport-McMoRan from $50.40 to $64.40 and gave the company an “outperform” rating in a report on Monday, January 26th. Wall Street Zen lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Wells Fargo & Company upped their target price on Freeport-McMoRan from $64.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. Finally, Argus raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $66.26.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $70.14 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 2.29 and a debt-to-equity ratio of 0.29. The firm has a market cap of $100.80 billion, a PE ratio of 46.45, a price-to-earnings-growth ratio of 0.80 and a beta of 1.48. The company’s 50-day moving average price is $62.33 and its two-hundred day moving average price is $53.27. Freeport-McMoRan Inc. has a 12 month low of $32.12 and a 12 month high of $70.96.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Thursday, January 22nd. The natural resource company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.19. The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.42 billion. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. On average, equities analysts anticipate that Freeport-McMoRan Inc. will post 2.55 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is 19.87%.

Insider Activity at Freeport-McMoRan

In related news, CAO Ellie L. Mikes sold 11,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $62.03, for a total transaction of $682,330.00. Following the sale, the chief accounting officer owned 40,773 shares in the company, valued at approximately $2,529,149.19. This represents a 21.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Stephen T. Higgins sold 29,654 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $63.00, for a total transaction of $1,868,202.00. Following the completion of the transaction, the chief accounting officer directly owned 76,445 shares of the company’s stock, valued at $4,816,035. This represents a 27.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 565,145 shares of company stock worth $35,839,918. 0.79% of the stock is owned by company insiders.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.