111 Capital Invests $503,000 in Freeport-McMoRan Inc. (NYSE:FCX)

111 Capital acquired a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 13,212 shares of the natural resource company’s stock, valued at approximately $503,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Asset Planning Inc purchased a new position in shares of Freeport-McMoRan during the 4th quarter valued at approximately $25,000. Mizuho Bank Ltd. acquired a new position in Freeport-McMoRan in the 4th quarter valued at $26,000. Vision Financial Markets LLC acquired a new stake in shares of Freeport-McMoRan in the 4th quarter worth $27,000. Roxbury Financial LLC acquired a new stake in shares of Freeport-McMoRan in the 4th quarter worth $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Freeport-McMoRan in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Raymond James reissued an “outperform” rating and set a $52.00 price objective on shares of Freeport-McMoRan in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Thursday, March 6th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Scotiabank boosted their target price on Freeport-McMoRan from $40.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 14th. Finally, Dbs Bank upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.36.

Freeport-McMoRan Trading Up 0.4%

FCX opened at $39.06 on Friday. The firm has a market cap of $56.12 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $36.36 and its two-hundred day moving average is $38.48. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $53.29.

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

Freeport-McMoRan Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan’s payout ratio is currently 24.79%.

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.