TD Waterhouse Canada Inc. Has $17.22 Million Position in Freeport-McMoRan Inc. $FCX

TD Waterhouse Canada Inc. decreased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 339,070 shares of the natural resource company’s stock after selling 24,332 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Freeport-McMoRan were worth $17,218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FCX. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Freeport-McMoRan during the 3rd quarter worth approximately $25,000. Salomon & Ludwin LLC raised its position in Freeport-McMoRan by 1,962.9% during the third quarter. Salomon & Ludwin LLC now owns 722 shares of the natural resource company’s stock valued at $29,000 after purchasing an additional 687 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Freeport-McMoRan in the 3rd quarter valued at $36,000. Finally, Proffitt & Goodson Inc. raised its holdings in shares of Freeport-McMoRan by 39.8% during the 3rd quarter. Proffitt & Goodson Inc. now owns 977 shares of the natural resource company’s stock worth $38,000 after buying an additional 278 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Freeport-McMoRan Trading Down 0.1%

Shares of Freeport-McMoRan stock opened at $70.14 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 2.29. The stock has a market capitalization of $100.80 billion, a P/E ratio of 46.45, a P/E/G ratio of 0.80 and a beta of 1.48. Freeport-McMoRan Inc. has a 52-week low of $32.12 and a 52-week high of $70.96. The stock’s 50-day simple moving average is $62.33 and its 200 day simple moving average is $53.27.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 22nd. The natural resource company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.19. Freeport-McMoRan had a net margin of 8.50% and a return on equity of 8.50%. The company had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 2.55 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 19.87%.

Wall Street Analyst Weigh In

FCX has been the topic of several recent research reports. Raymond James Financial raised their price objective on Freeport-McMoRan from $53.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freeport-McMoRan in a research note on Thursday, January 22nd. Morgan Stanley set a $70.00 target price on Freeport-McMoRan in a report on Tuesday, January 27th. UBS Group decreased their price target on Freeport-McMoRan from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Finally, CICC Research raised their price objective on shares of Freeport-McMoRan from $50.40 to $64.40 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average price target of $66.26.

Insider Buying and Selling at Freeport-McMoRan

In other news, CAO Stephen T. Higgins sold 29,654 shares of Freeport-McMoRan stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $63.00, for a total value of $1,868,202.00. Following the transaction, the chief accounting officer owned 76,445 shares in the company, valued at approximately $4,816,035. The trade was a 27.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Maree E. Robertson sold 48,500 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $61.55, for a total transaction of $2,985,175.00. Following the completion of the transaction, the chief financial officer owned 79,894 shares in the company, valued at $4,917,475.70. This represents a 37.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 565,145 shares of company stock valued at $35,839,918. 0.79% of the stock is currently owned by company insiders.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.