Freeport-McMoRan Inc. (NYSE:FCX) Stock Position Raised by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC lifted its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 463,394 shares of the natural resource company's stock after buying an additional 41,172 shares during the period. Signature Estate & Investment Advisors LLC's holdings in Freeport-McMoRan were worth $17,646,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Asset Planning Inc purchased a new position in Freeport-McMoRan in the 4th quarter worth approximately $25,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan in the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC boosted its holdings in Freeport-McMoRan by 487.8% in the fourth 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 in the last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan in the fourth quarter worth about $28,000. Finally, Continuum Advisory LLC grew its stake in Freeport-McMoRan by 46.8% in the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company's stock worth $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.

Freeport-McMoRan Price Performance

FCX traded down $1.62 on Friday, reaching $38.36. The company had a trading volume of 20,221,875 shares, compared to its average volume of 13,413,076. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24. The company has a market capitalization of $55.13 billion, a P/E ratio of 29.74, a PEG ratio of 0.87 and a beta of 1.87. The company has a fifty day moving average of $38.14 and a 200-day moving average of $41.97. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Remove Ads

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results 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%. As a group, equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

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 paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is presently 23.26%.

Analysts Set New Price Targets

A number of brokerages have weighed in on FCX. StockNews.com lowered Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Finally, Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Six equities research 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 has a consensus 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.