Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Palogic Value Management L.P.

Palogic Value Management L.P. increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,277 shares of the natural resource company’s stock after purchasing an additional 292 shares during the quarter. Palogic Value Management L.P.’s holdings in Freeport-McMoRan were worth $772,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FCX. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Freeport-McMoRan by 240.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,000 shares of the natural resource company’s stock valued at $3,994,000 after acquiring an additional 56,475 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Freeport-McMoRan by 14.6% in the third quarter. Larson Financial Group LLC now owns 2,252 shares of the natural resource company’s stock worth $112,000 after buying an additional 287 shares in the last quarter. Freedom Investment Management Inc. boosted its position in Freeport-McMoRan by 22.7% during the third quarter. Freedom Investment Management Inc. now owns 11,893 shares of the natural resource company’s stock worth $594,000 after acquiring an additional 2,200 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Freeport-McMoRan by 13.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 85,373 shares of the natural resource company’s stock valued at $4,262,000 after acquiring an additional 10,156 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its holdings in Freeport-McMoRan by 19.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 25,239 shares of the natural resource company’s stock valued at $1,260,000 after acquiring an additional 4,111 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FCX. BMO Capital Markets lowered their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Jefferies Financial Group raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their price objective for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Finally, Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Trading Down 4.0 %

Shares of NYSE FCX opened at $38.36 on Friday. The stock has a fifty day simple moving average of $38.14 and a 200-day simple moving average of $41.96. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $55.13 billion, a PE ratio of 29.74, a PEG ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.15 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.56%. Freeport-McMoRan’s dividend payout ratio is presently 23.26%.

About Freeport-McMoRan

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.