Lyell Wealth Management LP Sells 16,153 Shares of Freeport-McMoRan Inc. $FCX

Lyell Wealth Management LP lowered its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,165 shares of the natural resource company’s stock after selling 16,153 shares during the quarter. Lyell Wealth Management LP’s holdings in Freeport-McMoRan were worth $6,306,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV increased its holdings in Freeport-McMoRan by 49.0% in the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock valued at $11,267,000 after buying an additional 73,002 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Freeport-McMoRan in the 4th quarter valued at $8,857,000. Wellington Management Group LLP increased its holdings in Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after buying an additional 23,950,557 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in Freeport-McMoRan by 426.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 81,892 shares of the natural resource company’s stock valued at $3,212,000 after buying an additional 66,331 shares during the period. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. increased its holdings in Freeport-McMoRan by 175.4% in the 4th quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company’s stock valued at $70,078,000 after buying an additional 878,760 shares during the period. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 6.8%

Shares of NYSE:FCX opened at $66.32 on Friday. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.09. The company’s 50-day moving average price is $64.10 and its two-hundred day moving average price is $58.98. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The firm has a market cap of $95.34 billion, a P/E ratio of 35.28, a P/E/G ratio of 0.75 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio is presently 15.96%.

Analyst Ratings Changes

Several equities research analysts have issued reports on FCX shares. HSBC boosted their price target on shares of Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. The Goldman Sachs Group boosted their price target on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Weiss Ratings raised shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 22nd. Barclays started coverage on shares of Freeport-McMoRan in a report on Thursday, May 21st. They issued an “overweight” rating and a $77.00 price target on the stock. Finally, Citigroup reduced their target price on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.72.

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.