Brooklyn Investment Group Raises Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Brooklyn Investment Group increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,041 shares of the natural resource company’s stock after buying an additional 396 shares during the quarter. Brooklyn Investment Group’s holdings in Freeport-McMoRan were worth $230,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FCX. Matrix Trust Co purchased a new stake in Freeport-McMoRan in the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Freeport-McMoRan during the 2nd quarter worth about $27,000. Godsey & Gibb Inc. raised its holdings in Freeport-McMoRan by 150.4% in the 3rd quarter. Godsey & Gibb Inc. now owns 576 shares of the natural resource company’s stock valued at $29,000 after buying an additional 346 shares during the period. Laurel Wealth Advisors LLC lifted its position in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares during the last quarter. Finally, Continuum Advisory LLC boosted its stake in Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock worth $37,000 after buying an additional 236 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Up 0.6 %

Shares of NYSE:FCX opened at $40.27 on Friday. Freeport-McMoRan Inc. has a 52 week low of $36.26 and a 52 week high of $55.24. The company’s 50 day moving average is $41.25 and its two-hundred day moving average is $44.31. The company has a market cap of $57.86 billion, a PE ratio of 29.39, a P/E/G ratio of 2.13 and a beta of 1.87. 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 results 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 company 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%. Freeport-McMoRan’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. Equities analysts predict that Freeport-McMoRan Inc. will post 1.46 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Wednesday, January 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 21.90%.

Wall Street Analysts Forecast Growth

FCX has been the topic of several recent analyst reports. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $51.00 to $46.00 in a report on Tuesday, January 7th. StockNews.com lowered 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 on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Scotiabank reduced their price target on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Monday, January 6th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.42.

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.