Freeport-McMoRan Inc. $FCX Shares Sold by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd trimmed its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 832,754 shares of the natural resource company’s stock after selling 28,874 shares during the period. Temasek Holdings Private Ltd owned 0.06% of Freeport-McMoRan worth $36,100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new stake in Freeport-McMoRan during the 2nd quarter worth approximately $28,000. Dagco Inc. purchased a new stake in shares of Freeport-McMoRan during the first quarter worth approximately $37,000. Beacon Capital Management LLC increased its position in shares of Freeport-McMoRan by 59.6% during the second quarter. Beacon Capital Management LLC now owns 876 shares of the natural resource company’s stock worth $38,000 after purchasing an additional 327 shares in the last quarter. CKW Financial Group acquired a new position in Freeport-McMoRan in the 1st quarter valued at $40,000. Finally, Hilltop National Bank purchased a new position in Freeport-McMoRan in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $45.22 on Monday. The firm has a 50 day simple moving average of $41.17 and a 200-day simple moving average of $42.22. The stock has a market cap of $64.94 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 1.02 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.45 and a quick ratio of 1.19. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $49.12.

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

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Wednesday, October 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, October 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.13%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FCX. Dbs Bank dropped their target price on shares of Freeport-McMoRan from $51.00 to $48.00 in a report on Thursday, October 2nd. BNP Paribas Exane lowered their price target on shares of Freeport-McMoRan from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, September 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a report on Wednesday, November 26th. Finally, UBS Group set a $48.00 price target on Freeport-McMoRan and gave the company a “buy” rating in a report on Friday, October 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $47.30.

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.