Point View Wealth Management Inc. lifted its position in shares of Freeport-McMoRan Inc (NYSE:FCX) by 7.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,222 shares of the natural resource company’s stock after buying an additional 1,097 shares during the period. Point View Wealth Management Inc.’s holdings in Freeport-McMoRan were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ruffer LLP lifted its holdings in Freeport-McMoRan by 1,425.9% in the fourth quarter. Ruffer LLP now owns 16,724,976 shares of the natural resource company’s stock valued at $219,628,000 after acquiring an additional 15,628,927 shares during the last quarter. Fisher Asset Management LLC increased its stake in Freeport-McMoRan by 31.9% during the third quarter. Fisher Asset Management LLC now owns 38,822,910 shares of the natural resource company’s stock worth $371,535,000 after acquiring an additional 9,381,370 shares during the last quarter. Phoenix Holdings Ltd. purchased a new stake in Freeport-McMoRan in the third quarter valued at $18,259,000. Marathon Asset Management LLP purchased a new stake in Freeport-McMoRan in the third quarter valued at $16,785,000. Finally, Public Employees Retirement Association of Colorado raised its position in Freeport-McMoRan by 552.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,713,582 shares of the natural resource company’s stock valued at $22,482,000 after purchasing an additional 1,450,804 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.
In other Freeport-McMoRan news, Director John Joseph Stephens acquired 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was purchased at an average price of $11.29 per share, for a total transaction of $508,050.00. Following the completion of the acquisition, the director now owns 12,190 shares of the company’s stock, valued at approximately $137,625.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.98% of the company’s stock.
Shares of FCX stock traded down $0.37 on Friday, hitting $12.24. The stock had a trading volume of 30,326,621 shares, compared to its average volume of 26,425,436. The company’s 50 day moving average price is $12.43 and its 200-day moving average price is $10.94. Freeport-McMoRan Inc has a 1 year low of $8.43 and a 1 year high of $14.68. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.43 and a quick ratio of 1.20. The firm has a market capitalization of $18.17 billion, a P/E ratio of -101.99 and a beta of 2.43.
Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, January 23rd. The natural resource company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Freeport-McMoRan had a positive return on equity of 0.18% and a negative net margin of 1.12%. Freeport-McMoRan’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the business posted $0.11 EPS. On average, equities analysts forecast that Freeport-McMoRan Inc will post 0.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th were given a dividend of $0.05 per share. The ex-dividend date was Tuesday, January 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.63%. Freeport-McMoRan’s dividend payout ratio is presently 1,000.00%.
A number of equities analysts have recently weighed in on the company. Credit Suisse Group cut Freeport-McMoRan from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $11.00 to $10.00 in a report on Tuesday, January 14th. They noted that the move was a valuation call. BMO Capital Markets upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $12.00 to $17.00 in a report on Tuesday, December 17th. Royal Bank of Canada restated a “hold” rating and issued a $14.00 price objective on shares of Freeport-McMoRan in a report on Thursday, January 23rd. Bank of America raised shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, November 13th. Finally, Raymond James reaffirmed a “market perform” rating and set a $12.00 target price on shares of Freeport-McMoRan in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $13.77.
Freeport-McMoRan Company Profile
Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.
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