World Investment Advisors Purchases 13,359 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

World Investment Advisors raised its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 270.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,291 shares of the natural resource company's stock after purchasing an additional 13,359 shares during the quarter. World Investment Advisors' holdings in Freeport-McMoRan were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Asset Planning Inc bought a new position in Freeport-McMoRan during the fourth quarter valued at about $25,000. Vision Financial Markets LLC purchased a new position in Freeport-McMoRan in the fourth quarter valued at about $27,000. Laurel Wealth Advisors LLC grew its position in shares of Freeport-McMoRan by 487.8% during 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 period. Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter valued at approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Freeport-McMoRan during the 4th quarter worth approximately $29,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and upped their price objective for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. Raymond James increased their price target on Freeport-McMoRan from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. BMO Capital Markets lowered their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Scotiabank lowered their price target on shares of Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Monday. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.88.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock traded up $2.01 during midday trading on Friday, hitting $33.36. 26,222,183 shares of the company's stock were exchanged, compared to its average volume of 13,900,505. The stock has a 50-day moving average price of $37.10 and a two-hundred day moving average price of $41.06. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $55.24. The company has a market cap of $47.94 billion, a P/E ratio of 25.86, a PEG ratio of 0.87 and a beta of 1.71. 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 (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate 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 forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is currently 23.26%.

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.