Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in Freeport-McMoRan Inc. (NYSE:FCXGet Rating) by 77.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,901 shares of the natural resource company’s stock after selling 274,438 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Freeport-McMoRan were worth $2,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Kistler Tiffany Companies LLC lifted its stake in shares of Freeport-McMoRan by 5.4% in the first quarter. Kistler Tiffany Companies LLC now owns 5,868 shares of the natural resource company’s stock worth $292,000 after buying an additional 298 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in Freeport-McMoRan by 16.3% during the second quarter. Deseret Mutual Benefit Administrators now owns 2,414 shares of the natural resource company’s stock worth $71,000 after purchasing an additional 338 shares during the period. Valley National Advisers Inc. raised its stake in Freeport-McMoRan by 54.4% during the first quarter. Valley National Advisers Inc. now owns 968 shares of the natural resource company’s stock worth $49,000 after purchasing an additional 341 shares during the period. Oarsman Capital Inc. raised its stake in Freeport-McMoRan by 0.7% during the first quarter. Oarsman Capital Inc. now owns 47,200 shares of the natural resource company’s stock worth $2,348,000 after purchasing an additional 345 shares during the period. Finally, Close Asset Management Ltd raised its stake in Freeport-McMoRan by 3.0% during the second quarter. Close Asset Management Ltd now owns 11,900 shares of the natural resource company’s stock worth $348,000 after purchasing an additional 350 shares during the period. 77.38% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Trading Up 0.5 %

Shares of FCX stock opened at $38.04 on Thursday. The stock has a market cap of $54.37 billion, a price-to-earnings ratio of 14.46 and a beta of 1.95. The company has a quick ratio of 1.76, a current ratio of 2.56 and a debt-to-equity ratio of 0.40. Freeport-McMoRan Inc. has a fifty-two week low of $24.80 and a fifty-two week high of $51.99. The firm’s 50 day moving average price is $31.60 and its two-hundred day moving average price is $32.11.

Freeport-McMoRan (NYSE:FCXGet Rating) last posted its quarterly earnings data on Thursday, October 20th. The natural resource company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.14). The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Freeport-McMoRan had a net margin of 16.72% and a return on equity of 17.69%. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 EPS. On average, analysts anticipate that Freeport-McMoRan Inc. will post 2.33 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 1st. Stockholders of record on Friday, October 14th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Thursday, October 13th. Freeport-McMoRan’s dividend payout ratio (DPR) is 11.41%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Scotiabank downgraded shares of Freeport-McMoRan from a “sector outperform” rating to a “sector perform” rating and set a $34.00 target price on the stock. in a research note on Friday, November 11th. They noted that the move was a valuation call. StockNews.com assumed coverage on shares of Freeport-McMoRan in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada reduced their target price on shares of Freeport-McMoRan from $35.00 to $34.00 and set a “sector perform” rating on the stock in a research note on Friday, October 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Freeport-McMoRan from $30.00 to $35.00 in a research report on Wednesday. Finally, Barclays decreased their price objective on shares of Freeport-McMoRan to $23.00 in a report on Thursday, October 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Hold” and an average price target of $38.07.

Insider Buying and Selling

In other Freeport-McMoRan news, Director Ryan Michael Lance purchased 31,000 shares of the business’s stock in a transaction on Monday, August 29th. The stock was bought at an average cost of $31.88 per share, with a total value of $988,280.00. Following the acquisition, the director now owns 32,132 shares of the company’s stock, valued at $1,024,368.16. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Freeport-McMoRan Profile

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Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas. Its 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.

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

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