Edmond DE Rothschild Holding S.A. Has $1.19 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Edmond DE Rothschild Holding S.A. trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 22.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,356 shares of the natural resource company’s stock after selling 8,824 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Freeport-McMoRan were worth $1,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FCX. Hazlett Burt & Watson Inc. increased its holdings in shares of Freeport-McMoRan by 32.7% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 1,786 shares of the natural resource company’s stock worth $68,000 after buying an additional 440 shares in the last quarter. Wellington Management Group LLP increased its holdings in Freeport-McMoRan by 237.4% in the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company’s stock worth $351,041,000 after purchasing an additional 6,486,011 shares in the last quarter. Everstar Asset Management LLC boosted its stake in shares of Freeport-McMoRan by 6.4% during the fourth quarter. Everstar Asset Management LLC now owns 9,338 shares of the natural resource company’s stock valued at $356,000 after purchasing an additional 561 shares in the last quarter. United Bank grew its holdings in shares of Freeport-McMoRan by 30.3% during the fourth quarter. United Bank now owns 19,923 shares of the natural resource company’s stock worth $759,000 after purchasing an additional 4,636 shares during the last quarter. Finally, Brandywine Global Investment Management LLC increased its stake in shares of Freeport-McMoRan by 202.4% in the fourth quarter. Brandywine Global Investment Management LLC now owns 1,620,072 shares of the natural resource company’s stock valued at $61,692,000 after buying an additional 1,084,316 shares during the period. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on FCX shares. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $48.00 to $52.00 in a research report on Thursday, March 20th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Monday. Finally, Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price target for the company from $40.00 to $48.00 in a research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Price Performance

Shares of FCX opened at $38.09 on Wednesday. The business’s fifty day moving average is $38.05 and its 200 day moving average is $41.92. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. 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 stock has a market cap of $54.74 billion, a P/E ratio of 29.53, a P/E/G ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.26%.

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.