Trilogy Capital Inc. Trims Stock Holdings in Freeport-McMoRan Inc. $FCX

Trilogy Capital Inc. lessened its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 21.0% in the first quarter, Holdings Channel.com reports. The firm owned 181,197 shares of the natural resource company’s stock after selling 48,249 shares during the period. Trilogy Capital Inc.’s holdings in Freeport-McMoRan were worth $10,651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FCX. Wellington Management Group LLP boosted its stake in shares of Freeport-McMoRan by 190.9% during 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 last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Freeport-McMoRan by 98.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 19,973,108 shares of the natural resource company’s stock worth $1,014,434,000 after buying an additional 9,924,573 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Freeport-McMoRan by 31.2% in the fourth quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock worth $1,897,202,000 after buying an additional 8,891,743 shares during the last quarter. Amundi raised its holdings in Freeport-McMoRan by 102.5% in the fourth quarter. Amundi now owns 14,211,579 shares of the natural resource company’s stock valued at $721,806,000 after acquiring an additional 7,192,955 shares in the last quarter. Finally, PointState Capital LP acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $198,523,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Freeport-McMoRan stock opened at $62.31 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.28. The company has a fifty day moving average price of $64.61 and a two-hundred day moving average price of $60.71. The company has a market cap of $89.57 billion, a PE ratio of 33.14, a P/E/G ratio of 0.75 and a beta of 1.35.

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

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio is currently 15.96%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FCX shares. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Scotiabank upped their target price on shares of Freeport-McMoRan from $67.00 to $77.00 and gave the company a “sector outperform” rating in a research note on Monday, June 15th. The Goldman Sachs Group increased their price target on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Finally, Raymond James Financial lowered their price objective on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.27.

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.