Stifel Financial Corp Acquires 81,633 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Stifel Financial Corp lifted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,474,551 shares of the natural resource company's stock after acquiring an additional 81,633 shares during the quarter. Stifel Financial Corp owned approximately 0.10% of Freeport-McMoRan worth $56,151,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Asset Planning Inc acquired a new stake in Freeport-McMoRan during the 4th quarter worth approximately $25,000. Mizuho Bank Ltd. acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth $26,000. Vision Financial Markets LLC bought a new stake in shares of Freeport-McMoRan in the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC grew its stake in shares of 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. Finally, Roxbury Financial LLC bought a new position in Freeport-McMoRan during the fourth quarter worth about $28,000. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

Shares of FCX stock traded up $2.44 during trading on Thursday, hitting $37.63. The company's stock had a trading volume of 23,964,896 shares, compared to its average volume of 13,931,192. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a market cap of $54.08 billion, a PE ratio of 29.17, a P/E/G ratio of 0.87 and a beta of 1.71. The business has a fifty day moving average of $36.31 and a 200-day moving average of $40.09. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $55.24.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.01). The firm had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. During the same period in the prior year, the company earned $0.32 EPS. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

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

Analyst Upgrades and Downgrades

FCX has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. UBS Group dropped their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. BMO Capital Markets reduced their target price on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Sanford C. Bernstein downgraded Freeport-McMoRan from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Finally, Scotiabank reduced their price objective on shares of Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $48.33.

About Freeport-McMoRan

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.