Palogic Value Management L.P. Buys 292 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Palogic Value Management L.P. raised its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,277 shares of the natural resource company’s stock after acquiring an additional 292 shares during the quarter. Palogic Value Management L.P.’s holdings in Freeport-McMoRan were worth $772,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FCX. Asset Planning Inc bought a new position in Freeport-McMoRan in the 4th quarter worth approximately $25,000. Vision Financial Markets LLC purchased a new position in Freeport-McMoRan during the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC increased its holdings in Freeport-McMoRan by 487.8% in 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 last quarter. Roxbury Financial LLC purchased a new stake in Freeport-McMoRan in the 4th quarter worth $28,000. Finally, Continuum Advisory LLC grew its position in shares of Freeport-McMoRan by 46.8% during the third quarter. Continuum Advisory LLC now owns 740 shares of the natural resource company’s stock valued at $37,000 after purchasing an additional 236 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

FCX has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. BMO Capital Markets lowered their target price on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Sanford C. Bernstein downgraded shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $51.00 to $46.00 in a research note on Tuesday, January 7th. Scotiabank reduced their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Finally, StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Six research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.04.

Freeport-McMoRan Price Performance

Shares of FCX stock opened at $38.36 on Friday. Freeport-McMoRan Inc. has a twelve month low of $33.98 and a twelve month high of $55.24. 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 stock has a fifty day simple moving average of $38.14 and a two-hundred day simple moving average of $41.96. The stock 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 (NYSE:FCX) last released its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. On average, analysts predict that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued 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 dividend payout ratio is currently 23.26%.

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.