Freeport-McMoRan Inc. $FCX Position Raised by Fiera Capital Corp

Fiera Capital Corp raised its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 131.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 681,856 shares of the natural resource company’s stock after buying an additional 386,647 shares during the quarter. Fiera Capital Corp’s holdings in Freeport-McMoRan were worth $34,631,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in Freeport-McMoRan in the third quarter valued at $33,000. Kohmann Bosshard Financial Services LLC bought a new stake in Freeport-McMoRan in the fourth quarter valued at $38,000. Modus Advisors LLC bought a new stake in Freeport-McMoRan in the fourth quarter valued at $40,000. Key Financial Inc lifted its stake in Freeport-McMoRan by 32.3% in the fourth quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock valued at $42,000 after buying an additional 202 shares during the last quarter. Finally, Laurel Wealth Advisors LLC bought a new stake in Freeport-McMoRan in the fourth quarter valued at $43,000. 80.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FCX. HSBC raised their target price on Freeport-McMoRan from $69.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Raymond James Financial cut their target price 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. Citigroup cut their target price on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Sanford C. Bernstein cut their price objective on shares of Freeport-McMoRan from $54.00 to $53.50 and set a “market perform” rating on the stock in a research note on Friday, April 24th. Finally, Wall Street Zen cut shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $63.83 on Tuesday. The firm’s 50-day simple moving average is $63.63 and its 200 day simple moving average is $58.48. The stock has a market cap of $91.76 billion, a P/E ratio of 33.95, a P/E/G ratio of 0.76 and a beta of 1.35. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.09. 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 (NYSE:FCX) last released its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The firm had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.Freeport-McMoRan’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. Equities analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s payout ratio is presently 15.96%.

About Freeport-McMoRan

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.