TIAA Trust National Association Sells 3,059 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

TIAA Trust National Association lowered its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,538 shares of the natural resource company’s stock after selling 3,059 shares during the period. TIAA Trust National Association’s holdings in Freeport-McMoRan were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FCX. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth $25,000. Vision Financial Markets LLC purchased a new stake in shares of Freeport-McMoRan during the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC increased its holdings in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after buying an additional 600 shares in the last quarter. Roxbury Financial LLC purchased a new position in Freeport-McMoRan in the 4th quarter worth about $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Freeport-McMoRan during the 4th quarter valued at about $29,000. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE:FCX opened at $39.99 on Friday. The company has a market capitalization of $57.47 billion, a P/E ratio of 31.00, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24. The firm’s 50 day simple moving average is $38.18 and its two-hundred day simple moving average is $41.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

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

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $48.00 to $52.00 in a report on Thursday, March 20th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Thursday, March 6th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. Finally, Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and increased their target price for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan 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.