DGS Capital Management LLC Lowers Stake in Freeport-McMoRan Inc. (NYSE:FCX)

DGS Capital Management LLC lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,047 shares of the natural resource company’s stock after selling 1,094 shares during the period. DGS Capital Management LLC’s holdings in Freeport-McMoRan were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CM Management LLC lifted its holdings in shares of Freeport-McMoRan by 80.0% during the 3rd quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock valued at $1,342,000 after purchasing an additional 16,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Freeport-McMoRan by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock valued at $279,977,000 after purchasing an additional 102,466 shares during the last quarter. Cadinha & Co. LLC lifted its holdings in shares of Freeport-McMoRan by 59.0% during the 4th quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock valued at $27,572,000 after purchasing an additional 240,340 shares during the last quarter. Alphinity Investment Management Pty Ltd raised its stake in Freeport-McMoRan by 57.4% in the 3rd quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock worth $201,039,000 after acquiring an additional 1,965,987 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its stake in Freeport-McMoRan by 6.4% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after acquiring an additional 20,894 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $49.41 on Wednesday. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $52.42. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $70.87 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 2.26 and a beta of 2.04. The stock’s 50-day moving average price is $42.87 and its 200-day moving average price is $39.68.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period last year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.6 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s payout ratio is 23.62%.

Analysts Set New Price Targets

FCX has been the subject of a number of research analyst reports. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, April 9th. Raymond James raised their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $41.00 to $48.50 in a research report on Monday, January 8th. Finally, Scotiabank increased their price target on Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.71.

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.