TruWealth Advisors LLC Grows Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

TruWealth Advisors LLC increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1,513.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,639 shares of the natural resource company’s stock after purchasing an additional 251,989 shares during the quarter. TruWealth Advisors LLC’s holdings in Freeport-McMoRan were worth $10,230,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Matrix Trust Co acquired a new stake in shares of Freeport-McMoRan in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Freeport-McMoRan in the second quarter valued at $27,000. Laurel Wealth Advisors LLC lifted its holdings in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after buying an additional 600 shares during the last quarter. Godsey & Gibb Inc. boosted 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 acquiring an additional 346 shares in the last quarter. Finally, Continuum Advisory LLC increased its holdings in shares of 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 acquiring an additional 236 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $40.27 on Friday. The stock has a market capitalization of $57.86 billion, a P/E ratio of 29.39, a P/E/G ratio of 2.13 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. Freeport-McMoRan Inc. has a 1 year low of $36.26 and a 1 year high of $55.24. The company’s fifty day moving average is $41.25 and its two-hundred day moving average is $44.31.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.45 billion. During the same period in the prior year, the company posted $0.39 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.46 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on FCX shares. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. Raymond James increased their target price on shares of Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Scotiabank dropped their price objective on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating for the company in a report on Thursday. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and an average target price of $52.42.

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.