Alerus Financial NA Has $491,000 Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Alerus Financial NA lessened its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 68.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,905 shares of the natural resource company’s stock after selling 27,392 shares during the period. Alerus Financial NA’s holdings in Freeport-McMoRan were worth $491,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Asset Planning Inc bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at $25,000. Vision Financial Markets LLC acquired a new stake in Freeport-McMoRan during the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC increased its holdings in Freeport-McMoRan by 487.8% in 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 in the last quarter. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan during the 4th quarter valued at $28,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth about $29,000. 80.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on FCX shares. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company 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 note on Monday, March 10th. StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. BMO Capital Markets reduced their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Scotiabank lowered their target price on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.04.

Freeport-McMoRan Price Performance

FCX opened at $38.36 on Friday. Freeport-McMoRan Inc. has a 12-month low of $33.98 and a 12-month high of $55.24. The business’s fifty day simple moving average is $38.14 and its 200-day simple moving average is $41.96. The company has a market capitalization of $55.13 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 0.87 and a beta of 1.87. 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 posted its quarterly earnings data 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 return on equity of 7.50% and a net margin of 7.42%. On average, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. Freeport-McMoRan’s payout ratio is 23.26%.

Freeport-McMoRan Company 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.