Calamos Advisors LLC Sells 4,265 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Calamos Advisors LLC cut its position in Freeport-McMoRan Inc. (NYSE:FCX) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 931,973 shares of the natural resource company’s stock after selling 4,265 shares during the quarter. Calamos Advisors LLC’s holdings in Freeport-McMoRan were worth $39,674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FCX. Vanguard Group Inc. lifted its holdings in Freeport-McMoRan by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 119,369,409 shares of the natural resource company’s stock valued at $4,451,285,000 after purchasing an additional 305,912 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Freeport-McMoRan by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 25,338,465 shares of the natural resource company’s stock valued at $1,033,858,000 after purchasing an additional 472,160 shares during the last quarter. Northern Trust Corp lifted its holdings in Freeport-McMoRan by 4.2% during the 3rd quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company’s stock valued at $662,123,000 after purchasing an additional 709,114 shares during the last quarter. Morgan Stanley lifted its holdings in Freeport-McMoRan by 4.8% during the 4th quarter. Morgan Stanley now owns 16,533,638 shares of the natural resource company’s stock valued at $628,278,000 after purchasing an additional 753,458 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Freeport-McMoRan by 102.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,698,016 shares of the natural resource company’s stock valued at $355,838,000 after purchasing an additional 4,410,429 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Up 0.7 %

FCX traded up $0.34 during trading on Thursday, hitting $50.16. The company’s stock had a trading volume of 15,709,483 shares, compared to its average volume of 13,735,646. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32. Freeport-McMoRan Inc. has a twelve month low of $32.83 and a twelve month high of $52.42. The stock’s fifty day moving average price is $43.08 and its 200-day moving average price is $39.75. The firm has a market capitalization of $71.95 billion, a P/E ratio of 39.22, a PEG ratio of 2.23 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. Freeport-McMoRan’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Freeport-McMoRan Inc. will post 1.6 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.20%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.62%.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $41.00 to $48.50 in a report on Monday, January 8th. Raymond James lifted their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. lifted their target price on Freeport-McMoRan from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $47.54.

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.