Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by ORG Wealth Partners LLC

ORG Wealth Partners LLC grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 26.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,259 shares of the natural resource company’s stock after purchasing an additional 673 shares during the quarter. ORG Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $124,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Mountaineer Partners Management LLC grew its holdings in shares of Freeport-McMoRan by 4,767.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after acquiring an additional 11,687,982 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Freeport-McMoRan by 9.5% in the 3rd quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock worth $1,348,522,000 after acquiring an additional 2,366,187 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Freeport-McMoRan by 423.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 2,788,111 shares of the natural resource company’s stock worth $139,183,000 after acquiring an additional 2,255,529 shares during the last quarter. Capital Wealth Planning LLC grew its holdings in shares of Freeport-McMoRan by 34.9% in the 2nd quarter. Capital Wealth Planning LLC now owns 5,943,074 shares of the natural resource company’s stock worth $288,833,000 after acquiring an additional 1,538,560 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Freeport-McMoRan by 2.4% in the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock worth $2,965,717,000 after acquiring an additional 1,392,494 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 1.9 %

Freeport-McMoRan stock opened at $38.99 on Friday. Freeport-McMoRan Inc. has a 52 week low of $36.26 and a 52 week high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The firm has a market capitalization of $56.03 billion, a PE ratio of 28.46, a PEG ratio of 2.90 and a beta of 1.87. The business’s 50-day simple moving average is $42.09 and its 200-day simple moving average is $44.74.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.49 earnings per share for the current year.

Freeport-McMoRan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.54%. This is a positive change from Freeport-McMoRan’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, January 15th. Freeport-McMoRan’s payout ratio is currently 21.90%.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of recent research reports. Morgan Stanley decreased their target price on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Thursday, September 19th. Jefferies Financial Group decreased their target price on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their target price on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Scotiabank decreased their target price on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, January 6th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target of $52.96.

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.