Caerus Investment Advisors LLC Takes Position in Freeport-McMoRan Inc. $FCX

Caerus Investment Advisors LLC purchased a new position in Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 19,009 shares of the natural resource company’s stock, valued at approximately $965,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FCX. Brighton Jones LLC increased its position in shares of Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after purchasing an additional 2,882 shares during the last quarter. Bison Wealth LLC grew its stake in shares of Freeport-McMoRan by 5.6% during the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after acquiring an additional 507 shares during the period. Sivia Capital Partners LLC bought a new position in Freeport-McMoRan in the 2nd quarter worth approximately $560,000. Brown Advisory Inc. raised its holdings in shares of Freeport-McMoRan by 27.0% during the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after acquiring an additional 2,648 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Freeport-McMoRan by 42.7% during the 2nd quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after acquiring an additional 14,992 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FCX. Argus upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. Wall Street Zen cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. BNP Paribas Exane dropped their price objective on Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 28th. Finally, Jefferies Financial Group raised their price objective on Freeport-McMoRan from $75.00 to $85.00 and gave the company a “buy” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $66.72.

Freeport-McMoRan Trading Up 6.8%

NYSE:FCX opened at $66.32 on Friday. The stock has a 50-day simple moving average of $64.10 and a 200-day simple moving average of $58.98. The stock has a market cap of $95.34 billion, a P/E ratio of 35.28, a P/E/G ratio of 0.75 and a beta of 1.35. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year 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.

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

Freeport-McMoRan Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, April 15th. Freeport-McMoRan’s payout ratio is presently 15.96%.

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.