Bronfman E.L. Rothschild L.P. Has $67,000 Stake in Freeport-McMoRan Inc (NYSE:FCX)

Bronfman E.L. Rothschild L.P. lowered its position in Freeport-McMoRan Inc (NYSE:FCX) by 15.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,509 shares of the natural resource company’s stock after selling 1,204 shares during the period. Bronfman E.L. Rothschild L.P.’s holdings in Freeport-McMoRan were worth $67,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FCX. Rational Advisors LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $26,000. Lindbrook Capital LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $28,000. JOYN Advisors Inc. grew its stake in shares of Freeport-McMoRan by 141.1% in the 4th quarter. JOYN Advisors Inc. now owns 2,806 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 1,642 shares during the period. Athena Capital Advisors LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $30,000. Finally, Essex Savings Bank bought a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $44,000. Institutional investors own 70.77% of the company’s stock.

Shares of FCX stock traded down $0.01 during trading hours on Monday, reaching $13.69. The company had a trading volume of 15,270,731 shares, compared to its average volume of 21,424,164. The company has a quick ratio of 1.79, a current ratio of 3.22 and a debt-to-equity ratio of 0.62. The company has a market cap of $19.65 billion, a P/E ratio of 9.01 and a beta of 2.26. Freeport-McMoRan Inc has a 1-year low of $9.60 and a 1-year high of $19.70.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 24th. The natural resource company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.07). The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.86 billion. Freeport-McMoRan had a net margin of 12.12% and a return on equity of 15.77%. The business’s revenue for the quarter was down 26.9% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. Research analysts anticipate that Freeport-McMoRan Inc will post 0.5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 13.16%.

A number of equities research analysts recently commented on FCX shares. ValuEngine upgraded Freeport-McMoRan from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 10th. Zacks Investment Research raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Monday, April 8th. Raymond James reduced their price objective on Freeport-McMoRan from $14.50 to $14.00 and set a “market perform” rating on the stock in a report on Friday, January 25th. Barclays upped their price objective on Freeport-McMoRan from $11.00 to $12.00 and gave the stock an “underweight” rating in a report on Tuesday, April 9th. Finally, Credit Suisse Group initiated coverage on Freeport-McMoRan in a report on Wednesday, January 9th. They set a “neutral” rating and a $12.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.57.

In other news, VP C Donald Whitmire, Jr. sold 7,425 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $11.58, for a total value of $85,981.50. Following the transaction, the vice president now owns 67,974 shares of the company’s stock, valued at approximately $787,138.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.05% of the company’s stock.

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Freeport-McMoRan Profile

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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