Fulton Bank N.A. Increases Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Freeport-McMoRan logo Fulton Bank N.A. lifted its position in Freeport-McMoRan Inc. (NYSE:FCX [1] – Free Report [2]) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,606 shares of the natural resource company’s stock after purchasing an additional 267 shares during the quarter. Fulton Bank N.A.’s holdings in Freeport-McMoRan were worth £451,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in shares of Freeport-McMoRan in the first quarter valued at about £26,000. KB Financial Partners LLC purchased a new stake in shares of Freeport-McMoRan in the first quarter valued at about £26,000.

Retirement Group LLC grew its holdings in shares of Freeport-McMoRan by 97.1% in the second quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock valued at £27,000 after purchasing an additional 330 shares during the period. Thomas J.

Herzfeld Advisors Inc. purchased a new stake in shares of Freeport-McMoRan in the second quarter valued at about £29,000. Finally, ICA Group Wealth Management LLC purchased a new position in Freeport-McMoRan during the fourth quarter worth about £28,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.

Freeport-McMoRan Stock Up 3.0 %

Shares of NYSE:FCX [3] opened at £44.61 on Friday.

The firm’s 50 day moving average price is £39.35 and its 200 day moving average price is £38.35. The stock has a market cap of £63.99 billion, a price-to-earnings ratio of 35.13 and a beta of 2.02. Freeport-McMoRan Inc. has a fifty-two week low of £32.83 and a fifty-two week high of £44.90.

The company has a quick ratio of 1.38, a current ratio of 2.42 and a debt-to-equity ratio of 0.32.

Freeport-McMoRan (NYSE:FCX [4] – Get Free Report [5]) last issued its earnings results on Wednesday, January 24th. The natural resource company reported £0.27 earnings per share for the quarter, beating the consensus estimate of £0.23 by £0.04. The firm had revenue of £5.91 billion for the quarter, compared to analysts’ expectations of £5.85 billion.

Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned £0.52 earnings per share.

As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.52 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Friday, January 12th were issued a dividend of £0.15 per share. The ex-dividend date of this dividend was Thursday, January 11th.

This represents a £0.60 dividend on an annualized basis and a yield of 1.34%. Freeport-McMoRan’s payout ratio is currently 23.62%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a £55.00 target price on shares of Freeport-McMoRan in a research note on Thursday, January 25th.

Morgan Stanley lowered their target price on shares of Freeport-McMoRan from £41.00 to £40.00 and set an “equal weight” rating for the company in a research note on Thursday, December 7th. Sanford C. Bernstein raised shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and increased their target price for the stock from £41.00 to £48.50 in a research note on Monday, January 8th.

Raymond James increased their price target on shares of Freeport-McMoRan from £42.00 to £43.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, UBS Group reduced their price target on shares of Freeport-McMoRan from £42.00 to £41.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock.

According to data from MarketBeat.com, Freeport-McMoRan currently has an average rating of “Hold” and an average price target of £44.95. Read Our Latest Stock Analysis on Freeport-McMoRan [6]

Freeport-McMoRan Company Profile

(Free Report [7]) Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia.

It primarily explores for copper, gold, molybdenum, silver, and other metals. The company’s assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

Fulton Bank N.A. Increases Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Freeport-McMoRan Stock Up 3.0 %

Freeport-McMoRan Announces Dividend

Wall Street Analyst Weigh In

Freeport-McMoRan Company Profile

Further Reading

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