Thrivent Financial for Lutherans Sells 4,057 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Thrivent Financial for Lutherans cut its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,720 shares of the natural resource company’s stock after selling 4,057 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Freeport-McMoRan were worth $2,734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Freemont Management S.A. lifted its holdings in shares of Freeport-McMoRan by 50.0% in the fourth quarter. Freemont Management S.A. now owns 30,000 shares of the natural resource company’s stock worth $1,142,000 after acquiring an additional 10,000 shares during the last quarter. TCTC Holdings LLC increased its position in Freeport-McMoRan by 1.1% during the 4th quarter. TCTC Holdings LLC now owns 719,098 shares of the natural resource company’s stock worth $27,383,000 after purchasing an additional 7,974 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Freeport-McMoRan by 92.8% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,918 shares of the natural resource company’s stock valued at $73,000 after purchasing an additional 923 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Freeport-McMoRan by 10.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 36,405 shares of the natural resource company’s stock valued at $1,386,000 after buying an additional 3,333 shares in the last quarter. Finally, one8zero8 LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter worth $475,000. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. BMO Capital Markets reduced their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Scotiabank dropped their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, January 24th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price target for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.04.

Freeport-McMoRan Stock Down 3.6 %

Shares of NYSE:FCX opened at $39.99 on Friday. The business’s 50-day moving average is $38.18 and its 200-day moving average is $41.98. Freeport-McMoRan Inc. has a 1 year low of $33.98 and a 1 year high of $55.24. The company has a market capitalization of $57.47 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. Equities research analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.50%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.26%.

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.