Congress Wealth Management LLC DE Decreases Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Congress Wealth Management LLC DE cut its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 41.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,392 shares of the natural resource company’s stock after selling 7,430 shares during the period. Congress Wealth Management LLC DE’s holdings in Freeport-McMoRan were worth $396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Freeport-McMoRan by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock valued at $4,692,191,000 after buying an additional 642,776 shares in the last quarter. Community Bank N.A. grew its holdings in shares of Freeport-McMoRan by 29.0% in the fourth quarter. Community Bank N.A. now owns 33,383 shares of the natural resource company’s stock valued at $1,271,000 after purchasing an additional 7,504 shares during the period. Stevens Capital Management LP increased its position in Freeport-McMoRan by 421.8% during the fourth quarter. Stevens Capital Management LP now owns 25,005 shares of the natural resource company’s stock worth $952,000 after purchasing an additional 20,213 shares during the last quarter. LPL Financial LLC raised its stake in Freeport-McMoRan by 10.1% during the fourth quarter. LPL Financial LLC now owns 1,776,932 shares of the natural resource company’s stock worth $67,666,000 after purchasing an additional 162,933 shares during the period. Finally, Mosley Wealth Management boosted its holdings in Freeport-McMoRan by 19.1% in the 4th quarter. Mosley Wealth Management now owns 6,224 shares of the natural resource company’s stock valued at $226,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FCX shares. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Trading Down 4.0 %

NYSE FCX opened at $38.36 on Friday. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24. The firm has a 50 day simple moving average of $38.14 and a 200-day simple moving average of $41.96. The firm has a market cap of $55.13 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 0.87 and a beta of 1.87. 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 (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 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.