Alpha Quant Advisors LLC Has $947,000 Holdings in Freeport-McMoRan Inc (FCX)

Alpha Quant Advisors LLC lowered its stake in Freeport-McMoRan Inc (NYSE:FCX) by 1.9% in the first quarter, Holdings Channel reports. The institutional investor owned 73,475 shares of the natural resource company’s stock after selling 1,421 shares during the quarter. Alpha Quant Advisors LLC’s holdings in Freeport-McMoRan were worth $947,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc increased its stake in shares of Freeport-McMoRan by 3.6% in the third quarter. Vanguard Group Inc now owns 154,818,850 shares of the natural resource company’s stock worth $2,155,078,000 after purchasing an additional 5,375,340 shares during the period. Fisher Asset Management LLC increased its stake in shares of Freeport-McMoRan by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 32,378,452 shares of the natural resource company’s stock worth $333,822,000 after purchasing an additional 121,884 shares during the period. Geode Capital Management LLC increased its stake in shares of Freeport-McMoRan by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 21,269,503 shares of the natural resource company’s stock worth $218,954,000 after purchasing an additional 959,745 shares during the period. Northern Trust Corp increased its stake in shares of Freeport-McMoRan by 5.6% in the fourth quarter. Northern Trust Corp now owns 20,550,366 shares of the natural resource company’s stock worth $211,875,000 after purchasing an additional 1,096,013 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Freeport-McMoRan by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 15,149,506 shares of the natural resource company’s stock worth $156,232,000 after purchasing an additional 1,145,747 shares during the period. 70.38% of the stock is owned by institutional investors.

Shares of FCX opened at $10.20 on Tuesday. Freeport-McMoRan Inc has a 12-month low of $9.60 and a 12-month high of $18.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.41 and a current ratio of 2.79. The stock has a market cap of $15.04 billion, a P/E ratio of 6.71 and a beta of 2.21.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, April 25th. The natural resource company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). Freeport-McMoRan had a net margin of 9.09% and a return on equity of 10.31%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The company’s revenue was down 22.1% on a year-over-year basis. Analysts anticipate that Freeport-McMoRan Inc will post 0.46 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Monday, April 15th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $0.20 annualized dividend and a yield of 1.96%. Freeport-McMoRan’s dividend payout ratio is 13.16%.

A number of equities analysts have recently commented on FCX shares. ValuEngine lowered Freeport-McMoRan from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 24th. Raymond James dropped their price objective on Freeport-McMoRan from $14.50 to $14.00 and set a “market perform” rating on the stock in a research note on Friday, January 25th. Morgan Stanley upgraded Freeport-McMoRan from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $16.00 to $14.00 in a research note on Tuesday, February 12th. Zacks Investment Research upgraded Freeport-McMoRan from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, Citigroup upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $16.00 in a research note on Tuesday, February 19th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $15.01.

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About Freeport-McMoRan

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

Read More: Understanding Analyst Recommendations

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

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