Graypoint LLC Purchases 1794 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Freeport-McMoRan logoGraypoint LLC grew its stake in Freeport-McMoRan Inc. (NYSE:FCX[1] - Free Report[2]) by 21.8% in the 4th quarter, Holdings Channel[3] reports. The institutional investor owned 10,029 shares of the natural resource company's stock after buying an additional 1,794 shares during the quarter. Graypoint LLC's holdings in Freeport-McMoRan were worth £427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CM Management LLC boosted its holdings in shares of Freeport-McMoRan by 80.0% in the third quarter. CM Management LLC now owns 36,000 shares of the natural resource company's stock valued at £1,342,000 after buying an additional 16,000 shares during the period.

Charles Schwab Investment Management Inc. lifted its stake in Freeport-McMoRan by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company's stock valued at £279,977,000 after acquiring an additional 102,466 shares during the last quarter. Cadinha & Co.

LLC lifted its stake in Freeport-McMoRan by 59.0% in the fourth quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company's stock valued at £27,572,000 after acquiring an additional 240,340 shares during the last quarter.

Alphinity Investment Management Pty Ltd lifted its stake in Freeport-McMoRan by 57.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company's stock valued at £201,039,000 after acquiring an additional 1,965,987 shares during the last quarter. Finally, Annex Advisory Services LLC lifted its stake in Freeport-McMoRan by 15.0% in the third quarter.

Annex Advisory Services LLC now owns 480,162 shares of the natural resource company's stock valued at £17,905,000 after acquiring an additional 62,456 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Price Performance

NYSE:FCX[4] opened at £49.47 on Monday. Freeport-McMoRan Inc. has a 52 week low of £32.83 and a 52 week high of £52.42.

The firm has a market cap of £70.96 billion, a price-to-earnings ratio of 38.95, a P/E/G ratio of 2.24 and a beta of 2.04. The firm's 50-day simple moving average is £42.46 and its 200 day simple moving average is £39.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.38 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX[5] - Get Free Report[6]) last announced its quarterly earnings data on Wednesday, January 24th.

The natural resource company reported £0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of £0.23 by £0.04. The firm had revenue of £5.91 billion for the quarter, compared to the consensus estimate of £5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%.

The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted £0.52 earnings per share. As a group, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.6 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st.

Shareholders of record on Monday, April 15th will be paid a dividend of £0.15 per share. The ex-dividend date is Friday, April 12th. This represents a £0.60 dividend on an annualized basis and a yield of 1.21%.

Freeport-McMoRan's payout ratio is 23.62%.

Wall Street Analysts Forecast Growth

FCX has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a £55.00 price target on shares of Freeport-McMoRan in a research note on Thursday, January 25th. Sanford C.

Bernstein upgraded shares of Freeport-McMoRan from a "market perform" rating to an "outperform" rating and increased their price target for the company from £41.00 to £48.50 in a research note on Monday, January 8th. Bank of America upgraded shares of Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a £59.00 price target for the company in a research note on Tuesday, April 9th. Scotiabank increased their price target on shares of Freeport-McMoRan from £48.00 to £55.00 and gave the company a "sector outperform" rating in a research note on Tuesday, April 9th.

Finally, Raymond James increased their price objective on shares of Freeport-McMoRan from £42.00 to £43.00 and gave the company an "outperform" rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of £46.71.

Check Out Our Latest Stock Analysis on Freeport-McMoRan[7]

Freeport-McMoRan Profile

(Free Report[8]) 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.

Featured Articles

Want to see what other hedge funds are holding FCX? Visit HoldingsChannel.com[9] to get the latest 13F filings and insider trades for Freeport-McMoRan Inc. (NYSE:FCX[10] - Free Report[11]).

Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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References

  1. ^ NYSE:FCX (www.marketbeat.com)
  2. ^ Free Report (www.marketbeat.com)
  3. ^ Holdings Channel (www.holdingschannel.com)
  4. ^ NYSE:FCX (www.marketbeat.com)
  5. ^ NYSE:FCX (www.marketbeat.com)
  6. ^ Get Free Report (www.marketbeat.com)
  7. ^ Check Out Our Latest Stock Analysis on Freeport-McMoRan (www.marketbeat.com)
  8. ^ Free Report (www.marketbeat.com)
  9. ^ Visit HoldingsChannel.com (www.holdingschannel.com)
  10. ^ NYSE:FCX (www.marketbeat.com)
  11. ^ Free Report (www.marketbeat.com)
  12. ^ MarketBeat.com's FREE daily email newsletter (www.defenseworld.net)