180 Wealth Advisors LLC Has $2.25 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

180 Wealth Advisors LLC increased its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,114 shares of the natural resource company’s stock after purchasing an additional 3,727 shares during the period. 180 Wealth Advisors LLC’s holdings in Freeport-McMoRan were worth $2,251,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FCX. Spectrum Wealth Counsel LLC acquired a new position in Freeport-McMoRan during the 2nd quarter worth $25,000. Matrix Trust Co acquired a new position in Freeport-McMoRan during the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Freeport-McMoRan in the 2nd quarter valued at $27,000. Godsey & Gibb Inc. increased its position in shares of Freeport-McMoRan by 150.4% during the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock worth $29,000 after purchasing an additional 346 shares during the last quarter. Finally, Continuum Advisory LLC lifted its stake in Freeport-McMoRan by 46.8% in the 3rd quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares during the last quarter. 80.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FCX shares. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Morgan Stanley lowered their price objective on shares of Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. Scotiabank decreased their price target on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group decreased their target price on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Raymond James raised their price target on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.96.

Freeport-McMoRan Stock Up 1.1 %

Shares of FCX stock opened at $39.40 on Tuesday. The company has a 50 day simple moving average of $41.83 and a two-hundred day simple moving average of $44.53. The stock has a market cap of $56.61 billion, a P/E ratio of 28.76, a P/E/G ratio of 2.90 and a beta of 1.87. Freeport-McMoRan Inc. has a 12 month low of $36.26 and a 12 month high of $55.24. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.49 earnings per share for the current year.

Freeport-McMoRan Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.52%. This is an increase from Freeport-McMoRan’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, January 15th. Freeport-McMoRan’s payout ratio is presently 21.90%.

Freeport-McMoRan Profile

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.