B. Metzler seel. Sohn & Co. AG Has $2.14 Million Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

B. Metzler seel. Sohn & Co. AG cut its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,071 shares of the natural resource company’s stock after selling 4,355 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Freeport-McMoRan were worth $2,135,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FCX. Atom Investors LP acquired a new stake in Freeport-McMoRan in the 3rd quarter worth $439,000. Benjamin Edwards Inc. bought a new stake in shares of Freeport-McMoRan in the third quarter valued at about $2,761,000. Hilltop Holdings Inc. acquired a new stake in Freeport-McMoRan during the third quarter worth about $641,000. Janus Henderson Group PLC raised its holdings in Freeport-McMoRan by 9.3% in the 3rd quarter. Janus Henderson Group PLC now owns 5,172,219 shares of the natural resource company’s stock valued at $258,193,000 after acquiring an additional 440,580 shares in the last quarter. Finally, Investment Management Corp of Ontario raised its holdings in Freeport-McMoRan by 49.6% in the 3rd quarter. Investment Management Corp of Ontario now owns 47,663 shares of the natural resource company’s stock valued at $2,379,000 after acquiring an additional 15,800 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on FCX. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research report on Monday. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. BMO Capital Markets cut their price target on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Scotiabank decreased their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $38.17 on Thursday. The stock’s fifty day moving average is $38.03 and its 200-day moving average is $41.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 52 week low of $33.98 and a 52 week high of $55.24. The stock has a market capitalization of $54.85 billion, a PE ratio of 29.59, a PEG ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. Equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.57%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is 23.26%.

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.