Home Cryptocurrency Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by ING Groep NV

Freeport-McMoRan Inc. (NYSE:FCX) Shares Sold by ING Groep NV

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ING Groep NV trimmed its holdings in Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 39.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 360,953 shares of the natural resource company’s stock after selling 238,862 shares during the period. ING Groep NV’s holdings in Freeport-McMoRan were worth $13,460,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Mystic Asset Management Inc. raised its position in shares of Freeport-McMoRan by 2.4% in the 2nd quarter. Mystic Asset Management Inc. now owns 10,650 shares of the natural resource company’s stock valued at $426,000 after purchasing an additional 250 shares in the last quarter. Cape ANN Savings Bank increased its position in Freeport-McMoRan by 1.6% in the second quarter. Cape ANN Savings Bank now owns 15,588 shares of the natural resource company’s stock worth $624,000 after buying an additional 250 shares during the period. FinTrust Capital Advisors LLC increased its position in Freeport-McMoRan by 5.1% in the fourth quarter. FinTrust Capital Advisors LLC now owns 5,252 shares of the natural resource company’s stock worth $200,000 after buying an additional 253 shares during the period. Sheaff Brock Investment Advisors LLC increased its position in Freeport-McMoRan by 2.2% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 11,861 shares of the natural resource company’s stock worth $474,000 after buying an additional 255 shares during the period. Finally, Granite Investment Partners LLC increased its position in Freeport-McMoRan by 2.2% in the second quarter. Granite Investment Partners LLC now owns 12,173 shares of the natural resource company’s stock worth $487,000 after buying an additional 260 shares during the period. 77.96% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $41.28 on Thursday. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $46.73. The stock’s fifty day moving average price is $38.57 and its two-hundred day moving average price is $38.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.90 and a quick ratio of 1.67. The firm has a market cap of $59.19 billion, a PE ratio of 27.89 and a beta of 2.05.

Freeport-McMoRan (NYSE:FCXGet Free Report) last released its quarterly earnings data on Thursday, October 19th. The natural resource company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.05. Freeport-McMoRan had a return on equity of 9.98% and a net margin of 9.50%. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter last year, the business posted $0.26 EPS. Freeport-McMoRan’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, research analysts expect that Freeport-McMoRan Inc. will post 1.53 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Friday, January 12th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Thursday, January 11th. Freeport-McMoRan’s dividend payout ratio is 20.27%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Morgan Stanley dropped their target price on Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 7th. StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Raymond James increased their price target on Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. UBS Group decreased their target price on Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Wednesday, December 13th. Finally, JPMorgan Chase & Co. started coverage on Freeport-McMoRan in a research note on Tuesday, October 17th. They set a “neutral” rating and a $42.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.38.

Check Out Our Latest Stock Analysis on Freeport-McMoRan

Freeport-McMoRan Company Profile

(Free Report)

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, as well as oil and gas. The company’s assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

Further Reading

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Freeport-McMoRan Inc. (NYSE:FCXFree Report).

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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