Capitolis Liquid Global Markets LLC Invests $27.46 Million in Freeport-McMoRan Inc. $FCX

Capitolis Liquid Global Markets LLC acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 540,590 shares of the natural resource company’s stock, valued at approximately $27,457,000.

Other large investors also recently modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $29,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $38,000. Modus Advisors LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $40,000. Key Financial Inc increased its position in shares of Freeport-McMoRan by 32.3% during the fourth quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock worth $42,000 after buying an additional 202 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan during the third quarter worth $33,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FCX. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. UBS Group lifted their price target 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. Citigroup decreased their price target on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Finally, CICC Research decreased their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.31.

Freeport-McMoRan Trading Down 1.7%

FCX opened at $68.95 on Thursday. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $72.28. The company has a market cap of $99.12 billion, a P/E ratio of 36.67, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The company has a fifty day moving average price of $64.74 and a two-hundred day moving average price of $59.77. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28.

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 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 for the quarter, compared to analyst estimates of $5.73 billion. During the same period last year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Analysts predict that Freeport-McMoRan Inc. will post 2.51 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed 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 dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 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.