Capital Group Private Client Services Inc. Has $12.29 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Capital Group Private Client Services Inc. reduced its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 53.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 322,809 shares of the natural resource company’s stock after selling 372,967 shares during the period. Capital Group Private Client Services Inc.’s holdings in Freeport-McMoRan were worth $12,293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Freeport-McMoRan by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company’s stock valued at $4,692,191,000 after purchasing an additional 642,776 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Freeport-McMoRan by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company’s stock valued at $1,122,922,000 after buying an additional 688,240 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Freeport-McMoRan by 8.0% in the fourth quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company’s stock valued at $1,123,445,000 after buying an additional 2,191,926 shares during the last quarter. Amundi lifted its position in Freeport-McMoRan by 30.2% during the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock worth $857,305,000 after buying an additional 5,001,531 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Freeport-McMoRan by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company’s stock worth $619,682,000 after acquiring an additional 4,488,210 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 1.3 %

FCX opened at $32.90 on Friday. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $55.24. The firm has a market cap of $47.28 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The firm’s fifty day moving average is $36.66 and its two-hundred day moving average is $40.52.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.82%. Freeport-McMoRan’s dividend payout ratio is presently 23.26%.

Analyst Upgrades and Downgrades

FCX has been the topic of a number of research reports. Scotiabank reduced their target price on shares of Freeport-McMoRan from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Wolfe Research raised Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. Jefferies Financial Group upgraded 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 report on Thursday, February 27th. Finally, UBS Group dropped their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $48.39.

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.