Strong Tower Advisory Services Has $4.17 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Strong Tower Advisory Services grew its position in Freeport-McMoRan Inc. (NYSE:FCX) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,395 shares of the natural resource company’s stock after buying an additional 3,918 shares during the quarter. Freeport-McMoRan makes up approximately 1.1% of Strong Tower Advisory Services’ portfolio, making the stock its 23rd largest position. Strong Tower Advisory Services’ holdings in Freeport-McMoRan were worth $4,166,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Matrix Trust Co acquired a new position in Freeport-McMoRan in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Freeport-McMoRan in the second quarter valued at $27,000. Laurel Wealth Advisors LLC boosted its position in shares of Freeport-McMoRan by 487.8% in the fourth 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 period. Godsey & Gibb Inc. raised its position in Freeport-McMoRan by 150.4% during the third 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. 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 worth $37,000 after acquiring an additional 236 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Performance

Shares of FCX opened at $40.27 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.33 and a quick ratio of 1.30. Freeport-McMoRan Inc. has a one year low of $36.26 and a one year high of $55.24. The company’s fifty day moving average price is $41.25 and its 200 day moving average price is $44.27. The company has a market capitalization of $57.86 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.87.

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

Freeport-McMoRan Announces Dividend

The business also recently announced 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. This represents a $0.60 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, January 15th. Freeport-McMoRan’s payout ratio is currently 21.90%.

Wall Street Analyst Weigh In

Several research firms have weighed in on FCX. JPMorgan Chase & Co. lowered their target price on Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research note on Thursday. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, September 26th. Raymond James lifted their target price 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. Scotiabank dropped 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 note on Monday, January 6th. Finally, Sanford C. Bernstein downgraded Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus price target 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.