Freeport-McMoRan Inc. (NYSE:FCX) Holdings Raised by Xponance Inc.

Xponance Inc. boosted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 21.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 233,855 shares of the natural resource company’s stock after buying an additional 40,847 shares during the quarter. Xponance Inc.’s holdings in Freeport-McMoRan were worth $9,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC raised its holdings in shares of Freeport-McMoRan by 5.1% during the 4th quarter. FinTrust Capital Advisors LLC now owns 5,252 shares of the natural resource company’s stock valued at $200,000 after purchasing an additional 253 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Freeport-McMoRan by 2.6% during the 4th quarter. Fulton Bank N.A. now owns 10,606 shares of the natural resource company’s stock valued at $451,000 after acquiring an additional 267 shares in the last quarter. Drive Wealth Management LLC boosted its position in shares of Freeport-McMoRan by 2.8% during the 4th quarter. Drive Wealth Management LLC now owns 9,840 shares of the natural resource company’s stock valued at $419,000 after acquiring an additional 267 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Freeport-McMoRan by 38.8% during the 4th quarter. Sound Income Strategies LLC now owns 965 shares of the natural resource company’s stock valued at $41,000 after acquiring an additional 270 shares in the last quarter. Finally, PFG Investments LLC boosted its position in Freeport-McMoRan by 1.7% in the fourth quarter. PFG Investments LLC now owns 16,844 shares of the natural resource company’s stock valued at $717,000 after buying an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on FCX. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of Freeport-McMoRan from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $41.00 to $48.50 in a research note on Monday, January 8th. Finally, Scotiabank boosted their price target on shares of Freeport-McMoRan from $48.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.54.

Freeport-McMoRan Trading Up 1.2 %

NYSE FCX traded up $0.59 during trading on Friday, reaching $50.75. 1,308,877 shares of the stock traded hands, compared to its average volume of 13,568,610. The firm has a market cap of $72.80 billion, a price-to-earnings ratio of 39.50, a price-to-earnings-growth ratio of 2.25 and a beta of 2.04. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $52.42. The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $43.32 and its 200 day moving average price is $39.82.

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

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 23.62%.

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.