LPL Financial LLC raised its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,776,932 shares of the natural resource company's stock after buying an additional 162,933 shares during the quarter. LPL Financial LLC owned about 0.12% of Freeport-McMoRan worth $67,666,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Asset Planning Inc acquired a new position in shares of Freeport-McMoRan in the fourth quarter valued at approximately $25,000. Vision Financial Markets LLC acquired a new position in Freeport-McMoRan in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC raised its holdings in Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock valued at $28,000 after acquiring an additional 600 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $28,000. Finally, Continuum Advisory LLC grew its position in shares of Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock valued at $37,000 after purchasing an additional 236 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.
Analysts Set New Price Targets
FCX has been the topic of several recent analyst reports. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. BMO Capital Markets cut their price objective on shares of Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. StockNews.com upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Monday. Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their price target for the stock from $40.00 to $48.00 in a research note on Thursday, February 27th. Finally, Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and an average target price of $52.04.
View Our Latest Stock Analysis on FCX
Freeport-McMoRan Stock Down 1.5 %
Shares of NYSE:FCX traded down $0.57 during mid-day trading on Monday, hitting $37.85. 17,458,934 shares of the company traded hands, compared to its average volume of 13,429,209. The firm's 50 day simple moving average is $38.09 and its 200 day simple moving average is $41.95. The firm has a market cap of $54.39 billion, a P/E ratio of 29.34, a PEG ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24.
Freeport-McMoRan (NYSE:FCX - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (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, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.
Freeport-McMoRan Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.59%. Freeport-McMoRan's dividend payout ratio is currently 23.26%.
About Freeport-McMoRan
(
Free Report)
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.
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