Freeport-McMoRan Inc. $FCX Shares Sold by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 27.6% during the 4th quarter, HoldingsChannel reports. The fund owned 615,000 shares of the natural resource company’s stock after selling 235,000 shares during the quarter. Clal Insurance Enterprises Holdings Ltd’s holdings in Freeport-McMoRan were worth $31,236,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Leo Wealth LLC lifted its position in Freeport-McMoRan by 2.5% in the fourth quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after buying an additional 170 shares during the last quarter. Physician Wealth Advisors Inc. lifted its position in Freeport-McMoRan by 23.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock valued at $47,000 after buying an additional 176 shares during the last quarter. Castle Rock Wealth Management LLC lifted its position in Freeport-McMoRan by 3.3% in the fourth quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock valued at $289,000 after buying an additional 180 shares during the last quarter. GW&K Investment Management LLC lifted its position in Freeport-McMoRan by 11.1% in the fourth quarter. GW&K Investment Management LLC now owns 1,840 shares of the natural resource company’s stock valued at $93,000 after buying an additional 184 shares during the last quarter. Finally, Private Trust Co. NA lifted its position in Freeport-McMoRan by 6.7% in the fourth quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company’s stock valued at $158,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 2.9%

Freeport-McMoRan stock opened at $68.28 on Friday. The stock has a market cap of $98.15 billion, a PE ratio of 36.32, a P/E/G ratio of 0.80 and a beta of 1.35. The stock has a 50-day moving average price of $64.24 and a 200 day moving average price of $59.05. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $72.09. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last posted 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. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 EPS. Equities research analysts predict that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued a $0.075 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 annualized dividend and a yield of 0.4%. Freeport-McMoRan’s payout ratio is 15.96%.

Analyst Ratings Changes

A number of research firms have commented on FCX. Bank of America upped their target price on shares of Freeport-McMoRan from $68.00 to $81.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Scotiabank decreased their target price on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating on the stock in a research report on Friday, April 24th. The Goldman Sachs Group upped their target price on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. BNP Paribas Exane dropped their price target on shares of Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 28th. Finally, Jefferies Financial Group increased their price target on Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.86.

Freeport-McMoRan Company 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.