Sivia Capital Partners LLC Buys 15,312 Shares of Freeport-McMoRan Inc. $FCX

Sivia Capital Partners LLC boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 117.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 28,346 shares of the natural resource company’s stock after buying an additional 15,312 shares during the quarter. Sivia Capital Partners LLC’s holdings in Freeport-McMoRan were worth $1,440,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. KBC Group NV boosted its stake in shares of Freeport-McMoRan by 49.0% in the 4th quarter. KBC Group NV now owns 221,838 shares of the natural resource company’s stock valued at $11,267,000 after purchasing an additional 73,002 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Freeport-McMoRan in the 4th quarter valued at about $8,857,000. Wellington Management Group LLP boosted its stake in shares of Freeport-McMoRan by 190.9% in the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after purchasing an additional 23,950,557 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in shares of Freeport-McMoRan by 426.3% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 81,892 shares of the natural resource company’s stock valued at $3,212,000 after purchasing an additional 66,331 shares during the last quarter. Finally, Powszechne Towarzystwo Emerytalne Allianz Polska S.A. boosted its stake in shares of Freeport-McMoRan by 175.4% in the 4th quarter. Powszechne Towarzystwo Emerytalne Allianz Polska S.A. now owns 1,379,760 shares of the natural resource company’s stock valued at $70,078,000 after purchasing an additional 878,760 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 1.4%

Shares of NYSE:FCX opened at $70.69 on Thursday. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $72.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The company has a market capitalization of $101.62 billion, a PE ratio of 37.60, a PEG ratio of 0.86 and a beta of 1.35. The company has a 50 day moving average price of $63.08 and a two-hundred day moving average price of $57.93.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts forecast that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio is presently 15.96%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Argus raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Friday, February 13th. UBS Group raised their target price on shares of Freeport-McMoRan from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Wells Fargo & Company reduced their target price on shares of Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, April 24th. Finally, Morgan Stanley restated an “equal weight” rating and set a $66.00 target price (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.04.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.