Forty three Eighteen Advisors LLC Buys Shares of 17,088 Freeport-McMoRan Inc. $FCX

Forty three Eighteen Advisors LLC purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,088 shares of the natural resource company’s stock, valued at approximately $1,004,000.

Other hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in Freeport-McMoRan during the fourth quarter worth $25,000. Steph & Co. increased its stake in Freeport-McMoRan by 43.7% in the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock valued at $29,000 after buying an additional 150 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Freeport-McMoRan in the 4th quarter valued at $29,000. SHP Wealth Management bought a new stake in Freeport-McMoRan during the 4th quarter worth about $30,000. Finally, JPL Wealth Management LLC bought a new stake in Freeport-McMoRan during the 3rd quarter worth about $33,000. 80.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Freeport-McMoRan from $75.00 to $74.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. UBS Group boosted their price objective on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Jefferies Financial Group boosted their price target on Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Finally, Raymond James Financial dropped their price objective on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.77.

Freeport-McMoRan Stock Performance

FCX opened at $58.44 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The business has a fifty day simple moving average of $63.87 and a 200 day simple moving average of $61.94. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $72.28. The company has a market capitalization of $84.02 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 0.59 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, beating 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 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 previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts expect that Freeport-McMoRan Inc. will post 2.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 15.96%.

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.