Homestead Advisers Corp Purchases 57,500 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Homestead Advisers Corp boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,521,100 shares of the natural resource company's stock after purchasing an additional 57,500 shares during the period. Homestead Advisers Corp owned about 0.11% of Freeport-McMoRan worth $57,923,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FCX. Asset Planning Inc bought a new stake in Freeport-McMoRan in the fourth quarter valued at $25,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan in the 4th quarter worth about $27,000. Laurel Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 600 shares in the last quarter. Roxbury Financial LLC bought a new position in Freeport-McMoRan during the 4th quarter valued at about $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Freeport-McMoRan in the fourth quarter valued at about $29,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 1.6 %

Shares of FCX traded down $0.63 on Monday, hitting $37.79. The company's stock had a trading volume of 8,149,147 shares, compared to its average volume of 13,392,832. 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 firm has a market capitalization of $54.30 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 0.87 and a beta of 1.87. The firm's fifty day moving average price is $38.14 and its 200-day moving average price is $41.98. Freeport-McMoRan Inc. has a fifty-two week low of $33.98 and a fifty-two week high of $55.24.

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Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data 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 return on equity of 7.50% and a net margin of 7.42%. On average, equities research analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.59%. Freeport-McMoRan's payout ratio is presently 23.26%.

Analysts Set New Price Targets

FCX has been the topic of a number of research analyst reports. StockNews.com lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. BMO Capital Markets cut their price target on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $48.00 to $52.00 in a research report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $52.04.

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.