16,811 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by Potentia Wealth

Potentia Wealth purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 16,811 shares of the natural resource company's stock, valued at approximately $640,000.

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

Freeport-McMoRan Trading Down 4.0 %

NYSE FCX traded down $1.62 on Friday, hitting $38.36. 20,221,875 shares of the stock were exchanged, compared to its average volume of 13,413,076. The company's 50-day moving average price is $38.14 and its two-hundred day moving average price is $41.97. The company has a market capitalization of $55.13 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 0.87 and a beta of 1.87. Freeport-McMoRan Inc. has a 52-week low of $33.98 and a 52-week high of $55.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18.

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Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced 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%. Research analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan's payout ratio is currently 23.26%.

Analyst Ratings Changes

Several research analysts have commented on FCX shares. Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Jefferies Financial Group raised Freeport-McMoRan from a "hold" rating to a "buy" rating and increased their price objective for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. JPMorgan Chase & Co. raised Freeport-McMoRan from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $48.00 to $52.00 in a research note on Thursday, March 20th. Sanford C. Bernstein cut Freeport-McMoRan from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.