Freeport-McMoRan Inc. $FCX Stock Holdings Lifted by Great Lakes Advisors LLC

Great Lakes Advisors LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,559,067 shares of the natural resource company’s stock after purchasing an additional 7,809 shares during the quarter. Great Lakes Advisors LLC’s holdings in Freeport-McMoRan were worth $79,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Aviva PLC grew its stake in Freeport-McMoRan by 5.6% in the fourth quarter. Aviva PLC now owns 1,183,563 shares of the natural resource company’s stock valued at $60,113,000 after purchasing an additional 62,698 shares in the last quarter. Investment Research Partners LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $202,000. Caerus Investment Advisors LLC bought a new stake in shares of Freeport-McMoRan during the 4th quarter worth about $965,000. Great Valley Advisor Group Inc. boosted its stake in shares of Freeport-McMoRan by 48.3% during the 4th quarter. Great Valley Advisor Group Inc. now owns 10,136 shares of the natural resource company’s stock worth $515,000 after acquiring an additional 3,299 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its stake in shares of Freeport-McMoRan by 51.4% during the 4th quarter. Kovack Advisors Inc. now owns 8,971 shares of the natural resource company’s stock worth $456,000 after acquiring an additional 3,045 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Price Performance

NYSE FCX opened at $66.32 on Friday. Freeport-McMoRan Inc. has a twelve month low of $35.15 and a twelve month high of $72.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. The stock has a market capitalization of $95.34 billion, a PE ratio of 35.28, a P/E/G ratio of 0.75 and a beta of 1.35. The stock has a 50-day simple moving average of $64.10 and a 200 day simple moving average of $58.98.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the previous year, the firm earned $0.24 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Research analysts anticipate that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Freeport-McMoRan’s payout ratio is currently 15.96%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FCX. Morgan Stanley reiterated an “equal weight” rating and set a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. Citigroup decreased their price target on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Freeport-McMoRan in a research note on Friday, May 15th. Finally, Sanford C. Bernstein upped their price target on Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.72.

Freeport-McMoRan Company Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.