Whitener Capital Management Inc. Acquires 820 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Whitener Capital Management Inc. lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,621 shares of the natural resource company’s stock after buying an additional 820 shares during the period. Whitener Capital Management Inc.’s holdings in Freeport-McMoRan were worth $404,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of FCX. Matrix Trust Co acquired a new stake in Freeport-McMoRan in the third quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Freeport-McMoRan in the 2nd quarter valued at about $27,000. Laurel Wealth Advisors LLC increased its position in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares in the last quarter. Godsey & Gibb Inc. raised its stake in Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after buying an additional 346 shares during the period. Finally, Continuum Advisory LLC boosted its holdings in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after acquiring an additional 236 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 0.6 %

Shares of Freeport-McMoRan stock opened at $40.27 on Friday. The stock has a fifty day moving average price of $41.25 and a 200-day moving average price of $44.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. The firm has a market cap of $57.86 billion, a PE ratio of 29.39, a P/E/G ratio of 2.13 and a beta of 1.87. Freeport-McMoRan Inc. has a 1 year low of $36.26 and a 1 year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.46 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, January 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 21.90%.

Wall Street Analyst Weigh In

FCX has been the subject of several recent research reports. Scotiabank decreased their price objective on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. Raymond James upped their price objective on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group reduced their price objective on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a report on Monday, January 6th. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. Finally, StockNews.com lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.42.

Freeport-McMoRan Company 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.