City State Bank Raises Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

City State Bank lifted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1,282.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,382 shares of the natural resource company’s stock after purchasing an additional 1,282 shares during the quarter. City State Bank’s holdings in Freeport-McMoRan were worth $53,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Deane Retirement Strategies Inc. raised its stake in shares of Freeport-McMoRan by 0.4% during the third quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company’s stock worth $2,357,000 after purchasing an additional 201 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in shares of Freeport-McMoRan by 1.0% during the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock worth $1,037,000 after purchasing an additional 214 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Freeport-McMoRan by 5.2% during the third quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock worth $228,000 after purchasing an additional 228 shares during the last quarter. Fidelis Capital Partners LLC raised its stake in shares of Freeport-McMoRan by 2.0% during the third quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock worth $560,000 after purchasing an additional 231 shares during the last quarter. Finally, Prospera Private Wealth LLC raised its stake in shares of Freeport-McMoRan by 4.4% during the third quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after purchasing an additional 234 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 1.1 %

Freeport-McMoRan stock opened at $39.40 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The firm has a market capitalization of $56.61 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.90 and a beta of 1.87. Freeport-McMoRan Inc. has a fifty-two week low of $36.26 and a fifty-two week high of $55.24. The stock’s fifty day moving average is $41.83 and its two-hundred day moving average is $44.53.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.45 billion. Freeport-McMoRan had a return on equity of 7.40% and a net margin of 7.81%. Freeport-McMoRan’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. Analysts predict that Freeport-McMoRan Inc. will post 1.49 EPS for the current fiscal year.

Freeport-McMoRan Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.52%. This is a positive change from Freeport-McMoRan’s previous quarterly dividend of $0.08. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 21.90%.

Analyst Ratings Changes

FCX has been the subject of several analyst reports. Sanford C. Bernstein cut Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Morgan Stanley cut their price objective on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Jefferies Financial Group cut their price objective on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price objective on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.96.

Freeport-McMoRan Company 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.