Freeport-McMoRan Inc. (NYSE:FCX) Shares Acquired by NorthRock Partners LLC

NorthRock Partners LLC lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 101.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,252 shares of the natural resource company’s stock after purchasing an additional 9,172 shares during the period. NorthRock Partners LLC’s holdings in Freeport-McMoRan were worth $695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Numerai GP LLC purchased a new stake in Freeport-McMoRan in the 4th quarter valued at $256,000. OMERS ADMINISTRATION Corp grew its holdings in shares of Freeport-McMoRan by 20.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 59,960 shares of the natural resource company’s stock valued at $2,283,000 after purchasing an additional 10,167 shares during the period. Mountaineer Partners Management LLC grew its holdings in shares of Freeport-McMoRan by 3.3% in the fourth quarter. Mountaineer Partners Management LLC now owns 246,840 shares of the natural resource company’s stock valued at $9,400,000 after purchasing an additional 7,795 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Freeport-McMoRan by 12.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286,048 shares of the natural resource company’s stock worth $125,133,000 after purchasing an additional 373,922 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in Freeport-McMoRan by 4.1% in the 4th quarter. Lazard Asset Management LLC now owns 561,524 shares of the natural resource company’s stock valued at $21,381,000 after purchasing an additional 22,265 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Down 1.5%

Shares of NYSE FCX opened at $38.47 on Friday. 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 market capitalization of $55.28 billion, a PE ratio of 29.82, a PEG ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $55.24. The stock has a fifty day simple moving average of $36.47 and a 200-day simple moving average of $39.01.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. On average, equities analysts forecast that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s payout ratio is currently 24.79%.

Analyst Ratings Changes

FCX has been the subject of several analyst reports. Hsbc Global Res raised shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. UBS Group lowered their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Scotiabank lifted their target price on Freeport-McMoRan from $40.00 to $43.00 and gave the company a “sector perform” rating in a research report on Wednesday. StockNews.com cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Finally, Argus downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.36.

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.