Private Portfolio Partners LLC Boosts Position in Freeport-McMoRan Inc. (NYSE:FCX)

Private Portfolio Partners LLC boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,341 shares of the natural resource company’s stock after buying an additional 2,225 shares during the period. Private Portfolio Partners LLC’s holdings in Freeport-McMoRan were worth $622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Freeport-McMoRan during the fourth quarter worth $2,768,000. Geode Capital Management LLC lifted its position in Freeport-McMoRan by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 29,579,298 shares of the natural resource company’s stock valued at $1,122,922,000 after buying an additional 688,240 shares during the last quarter. StoneX Group Inc. lifted its stake in Freeport-McMoRan by 11.4% during the 4th quarter. StoneX Group Inc. now owns 25,467 shares of the natural resource company’s stock worth $970,000 after acquiring an additional 2,601 shares in the last quarter. Meridian Investment Counsel Inc. increased its position in shares of Freeport-McMoRan by 3.0% during the fourth quarter. Meridian Investment Counsel Inc. now owns 24,015 shares of the natural resource company’s stock worth $914,000 after acquiring an additional 700 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Freeport-McMoRan by 8.0% in the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company’s stock valued at $1,123,445,000 after purchasing an additional 2,191,926 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Up 0.6 %

FCX stock opened at $38.09 on Wednesday. The firm has a market cap of $54.74 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $38.05 and a 200 day moving average of $41.92. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s payout ratio is 23.26%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Argus lowered Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Monday. Scotiabank reduced their price target on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group raised Freeport-McMoRan from a “hold” rating to a “buy” rating and upped their target price for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan has an average rating of “Moderate Buy” and a consensus price target of $52.04.

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.