SevenBridge Financial Group LLC Sells 295 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

SevenBridge Financial Group LLC reduced its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 48,148 shares of the natural resource company’s stock after selling 295 shares during the period. SevenBridge Financial Group LLC’s holdings in Freeport-McMoRan were worth $1,810,000 as of its most recent filing with the SEC.

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

Freeport-McMoRan Trading Up 0.6 %

Shares of Freeport-McMoRan stock opened at $38.09 on Wednesday. The company’s 50-day moving average price is $38.05 and its 200-day moving average price is $41.92. The company has a market cap of $54.74 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced 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 net margin of 7.42% and a return on equity of 7.50%. On average, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.26%.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised Freeport-McMoRan from a “neutral” rating to an “overweight” rating and increased their price target for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Thursday, March 6th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. BMO Capital Markets lowered their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.04.

About Freeport-McMoRan

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.