NEOS Investment Management LLC Has $3.34 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

NEOS Investment Management LLC increased its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 31.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,735 shares of the natural resource company's stock after purchasing an additional 21,054 shares during the quarter. NEOS Investment Management LLC's holdings in Freeport-McMoRan were worth $3,341,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sanctuary Advisors LLC lifted its holdings in Freeport-McMoRan by 9.7% in the 3rd quarter. Sanctuary Advisors LLC now owns 164,640 shares of the natural resource company's stock valued at $8,219,000 after acquiring an additional 14,501 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Freeport-McMoRan during the third quarter worth approximately $754,000. Madison Investment Advisors LLC acquired a new position in Freeport-McMoRan in the fourth quarter worth approximately $3,388,000. Principal Financial Group Inc. increased its holdings in shares of Freeport-McMoRan by 4.1% in the third quarter. Principal Financial Group Inc. now owns 1,684,393 shares of the natural resource company's stock valued at $84,085,000 after buying an additional 66,699 shares in the last quarter. Finally, Czech National Bank lifted its position in shares of Freeport-McMoRan by 6.4% during the 4th quarter. Czech National Bank now owns 311,555 shares of the natural resource company's stock valued at $11,864,000 after acquiring an additional 18,852 shares during the last quarter. Institutional investors own 80.77% of the company's stock.

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Freeport-McMoRan Stock Up 0.0 %

FCX stock traded up $0.02 during trading hours on Tuesday, hitting $37.88. The company's stock had a trading volume of 8,845,440 shares, compared to its average volume of 13,412,992. The stock has a 50 day moving average price of $38.09 and a two-hundred day moving average price of $41.95. Freeport-McMoRan Inc. has a 12 month low of $33.98 and a 12 month high of $55.24. The company has a market capitalization of $54.43 billion, a PE ratio of 29.31, 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.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued 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 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 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors 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 annualized dividend and a yield of 1.58%. Freeport-McMoRan's dividend payout ratio (DPR) is currently 23.26%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FCX. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. StockNews.com upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating in a report on Monday. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and boosted their price target for the company from $40.00 to $48.00 in a report on Thursday, February 27th. Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Finally, 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 research note on Thursday, March 6th. Five 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 company's stock. According to MarketBeat, Freeport-McMoRan currently has an average rating of "Moderate Buy" and a consensus target price 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.