Yousif Capital Management LLC Decreases Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Yousif Capital Management LLC lessened its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 12.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 195,391 shares of the natural resource company’s stock after selling 28,581 shares during the quarter. Yousif Capital Management LLC’s holdings in Freeport-McMoRan were worth $8,318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in FCX. Vanguard Group Inc. increased its holdings in shares of Freeport-McMoRan by 0.3% in the third quarter. Vanguard Group Inc. now owns 119,369,409 shares of the natural resource company’s stock worth $4,451,285,000 after buying an additional 305,912 shares during the period. Northern Trust Corp increased its stake in Freeport-McMoRan by 4.2% in the 3rd quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company’s stock worth $662,123,000 after purchasing an additional 709,114 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Freeport-McMoRan by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock worth $279,977,000 after purchasing an additional 102,466 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Freeport-McMoRan by 18.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,393,868 shares of the natural resource company’s stock worth $238,427,000 after purchasing an additional 986,703 shares during the period. Finally, Alphinity Investment Management Pty Ltd increased its stake in shares of Freeport-McMoRan by 15.6% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 6,232,130 shares of the natural resource company’s stock worth $265,302,000 after buying an additional 840,900 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $49.15 on Thursday. The stock has a market cap of $70.50 billion, a price-to-earnings ratio of 42.69, a PEG ratio of 2.20 and a beta of 2.04. The business’s fifty day moving average is $44.02 and its 200 day moving average is $40.14. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $52.42. The company has a quick ratio of 1.38, a current ratio of 2.35 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. Research analysts expect that Freeport-McMoRan Inc. will post 1.57 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FCX shares. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a research note on Tuesday, April 9th. Raymond James boosted their price objective on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $41.00 to $48.50 in a report on Monday, January 8th. JPMorgan Chase & Co. reduced their price target on Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Freeport-McMoRan in a report on Thursday, January 25th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.77.

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.