Imprint Wealth LLC Sells 2,030 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Imprint Wealth LLC cut its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,907 shares of the natural resource company’s stock after selling 2,030 shares during the quarter. Imprint Wealth LLC’s holdings in Freeport-McMoRan were worth $473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CM Management LLC boosted its position in shares of Freeport-McMoRan by 80.0% during the third quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock valued at $1,342,000 after buying an additional 16,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Freeport-McMoRan by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock valued at $279,977,000 after buying an additional 102,466 shares during the last quarter. Cadinha & Co. LLC boosted its position in shares of Freeport-McMoRan by 59.0% during the fourth quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock valued at $27,572,000 after buying an additional 240,340 shares during the last quarter. Alphinity Investment Management Pty Ltd boosted its position in shares of Freeport-McMoRan by 57.4% during the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock valued at $201,039,000 after buying an additional 1,965,987 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC boosted its position in shares of Freeport-McMoRan by 6.4% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock valued at $14,726,000 after buying an additional 20,894 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FCX has been the topic of several recent analyst reports. Raymond James increased their price objective on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $41.00 to $48.50 in a research note on Monday, January 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price objective on the stock in a research note on Tuesday, April 9th. Finally, Scotiabank lifted their target price on Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of “Hold” and an average target price of $46.71.

Freeport-McMoRan Trading Down 2.0 %

FCX traded down $0.98 during trading hours on Tuesday, reaching $49.04. 8,876,380 shares of the company’s stock traded hands, compared to its average volume of 13,520,797. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $52.42. The firm has a market capitalization of $70.34 billion, a PE ratio of 39.39, a PEG ratio of 2.24 and a beta of 2.04. The firm has a 50-day moving average price of $42.69 and a 200 day moving average price of $39.59. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.23 by $0.04. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.85 billion. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.6 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.22%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is currently 23.62%.

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.