Freeport-McMoRan (NYSE:FCX) had its target price lowered by Cowen from $22.00 to $19.00 in a research report sent to investors on Wednesday morning, reports. The firm currently has an outperform rating on the natural resource company’s stock.

FCX has been the topic of several other research reports. Clarkson Capital upgraded Freeport-McMoRan from a neutral rating to a buy rating in a report on Wednesday, January 17th. TheStreet upgraded Freeport-McMoRan from a c rating to a b- rating in a report on Thursday, January 25th. Royal Bank of Canada increased their price target on Freeport-McMoRan to $22.00 and gave the company a sector perform rating in a report on Monday, March 12th. UBS increased their price target on Freeport-McMoRan from $14.00 to $18.50 and gave the company a neutral rating in a report on Tuesday, March 6th. Finally, ValuEngine upgraded Freeport-McMoRan from a hold rating to a buy rating in a report on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $17.41.

Shares of NYSE FCX traded down $0.31 during midday trading on Wednesday, reaching $15.32. 16,202,468 shares of the stock traded hands, compared to its average volume of 19,082,620. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.37 and a current ratio of 2.33. The company has a market capitalization of $22,629.80, a P/E ratio of 13.09 and a beta of 2.42. Freeport-McMoRan has a one year low of $11.05 and a one year high of $20.25.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Tuesday, April 24th. The natural resource company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.10). The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.92 billion. Freeport-McMoRan had a net margin of 12.72% and a return on equity of 19.92%. The firm’s revenue was up 45.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. equities analysts predict that Freeport-McMoRan will post 2.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Friday, April 13th will be paid a $0.05 dividend. The ex-dividend date is Thursday, April 12th. This represents a $0.20 dividend on an annualized basis and a yield of 1.31%. Freeport-McMoRan’s payout ratio is 17.09%.

In other Freeport-McMoRan news, VP C Donald Whitmire, Jr. sold 21,500 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $19.49, for a total value of $419,035.00. Following the sale, the vice president now owns 70,239 shares in the company, valued at $1,368,958.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.29% of the company’s stock.

Several institutional investors have recently made changes to their positions in FCX. American Beacon Advisors Inc. purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at $131,000. Thompson Davis & CO. Inc. increased its stake in shares of Freeport-McMoRan by 756.8% during the fourth quarter. Thompson Davis & CO. Inc. now owns 9,348 shares of the natural resource company’s stock valued at $177,000 after buying an additional 8,257 shares during the period. Ballew Advisors Inc purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at $190,000. Sowell Financial Services LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at $196,000. Finally, Banco de Sabadell S.A purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at $210,000. Hedge funds and other institutional investors own 70.13% of the company’s stock.

About Freeport-McMoRan

Freeport-McMoRan Inc engages in the mining of mineral properties in the United States, Indonesia, Peru, and Chile. 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 and El Abra mines in South America.

Analyst Recommendations for Freeport-McMoRan (NYSE:FCX)

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