Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Faithward Advisors LLC

Faithward Advisors LLC raised its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,806 shares of the natural resource company’s stock after acquiring an additional 2,214 shares during the quarter. Faithward Advisors LLC’s holdings in Freeport-McMoRan were worth $3,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Planning Inc purchased a new stake in Freeport-McMoRan during the 4th quarter valued at about $25,000. Mizuho Bank Ltd. acquired a new position in shares of Freeport-McMoRan during the 4th quarter worth approximately $26,000. Vision Financial Markets LLC purchased a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC increased its holdings in shares of Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after purchasing an additional 600 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan in the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCX. BMO Capital Markets dropped their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, January 24th. 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. StockNews.com cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James boosted their target price on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday. Finally, Argus downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.25.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $30.34 on Tuesday. The stock has a market capitalization of $43.60 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The business has a 50-day moving average of $37.63 and a 200 day moving average of $41.61. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $55.24.

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

Freeport-McMoRan Dividend Announcement

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 paid a $0.15 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 annualized dividend and a dividend yield of 1.98%. Freeport-McMoRan’s dividend payout ratio (DPR) is 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.