United Capital Management of KS Inc. Acquires Shares of 12,463 Freeport-McMoRan Inc. $FCX

United Capital Management of KS Inc. acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,463 shares of the natural resource company’s stock, valued at approximately $633,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Freeport-McMoRan by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 130,332,957 shares of the natural resource company’s stock valued at $6,619,611,000 after buying an additional 1,572,769 shares during the period. Fisher Asset Management LLC increased its stake in Freeport-McMoRan by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 63,880,757 shares of the natural resource company’s stock valued at $3,244,504,000 after buying an additional 622,343 shares during the period. State Street Corp increased its stake in Freeport-McMoRan by 1.1% in the 3rd quarter. State Street Corp now owns 62,477,910 shares of the natural resource company’s stock valued at $2,450,384,000 after buying an additional 690,736 shares during the period. Franklin Resources Inc. increased its stake in Freeport-McMoRan by 31.2% in the 4th quarter. Franklin Resources Inc. now owns 37,353,852 shares of the natural resource company’s stock valued at $1,897,202,000 after buying an additional 8,891,743 shares during the period. Finally, Wellington Management Group LLP increased its stake in 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 buying an additional 23,950,557 shares during the period. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

NYSE:FCX opened at $68.28 on Friday. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.09. The stock has a market cap of $98.15 billion, a PE ratio of 36.32, a price-to-earnings-growth ratio of 0.80 and a beta of 1.35. The firm’s fifty day simple moving average is $64.24 and its 200-day simple moving average is $59.05.

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

Freeport-McMoRan Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FCX. The Goldman Sachs Group boosted their price objective on shares of Freeport-McMoRan from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Wells Fargo & Company dropped their price objective 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. Barclays began coverage on shares of Freeport-McMoRan in a research note on Thursday, May 21st. They issued an “overweight” rating and a $77.00 price objective on the stock. Weiss Ratings raised shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 22nd. Finally, UBS Group boosted their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.86.

Freeport-McMoRan 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.