Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Eads & Heald Wealth Management

Eads & Heald Wealth Management raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,152 shares of the natural resource company’s stock after acquiring an additional 3,028 shares during the period. Eads & Heald Wealth Management’s holdings in Freeport-McMoRan were worth $688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sentry Investment Management LLC boosted its stake in Freeport-McMoRan by 149.0% in the fourth quarter. Sentry Investment Management LLC now owns 20,516 shares of the natural resource company’s stock valued at $873,000 after acquiring an additional 12,276 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Freeport-McMoRan by 4.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,312,240 shares of the natural resource company’s stock valued at $55,862,000 after buying an additional 50,947 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $599,000. Aire Advisors LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $213,000. Finally, Capital Advisors Inc. OK raised its holdings in shares of Freeport-McMoRan by 2.4% during the fourth quarter. Capital Advisors Inc. OK now owns 747,486 shares of the natural resource company’s stock valued at $31,820,000 after buying an additional 17,696 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Down 3.4 %

NYSE FCX traded down $1.69 on Tuesday, hitting $48.33. 4,954,829 shares of the stock were exchanged, compared to its average volume of 13,458,561. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $52.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. The company has a market capitalization of $69.33 billion, a price-to-earnings ratio of 39.39, a P/E/G ratio of 2.24 and a beta of 2.04. The company’s 50-day moving average price is $42.69 and its two-hundred day moving average price is $39.59.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the previous year, the company posted $0.52 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts predict that Freeport-McMoRan Inc. will post 1.6 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.24%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan’s payout ratio is 23.62%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $41.00 to $48.50 in a report on Monday, January 8th. Scotiabank boosted their target price on Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a report on Tuesday, April 9th. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price on the stock in a report on Tuesday, April 9th. Raymond James boosted their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.71.

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.