Cetera Investment Advisers Boosts Stake in Freeport-McMoRan Inc. (NYSE:FCX)

Cetera Investment Advisers grew its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,100 shares of the natural resource company's stock after purchasing an additional 18,029 shares during the quarter. Cetera Investment Advisers' holdings in Freeport-McMoRan were worth $11,732,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Asset Planning Inc purchased a new stake in shares of Freeport-McMoRan during the 4th quarter valued at $25,000. Mizuho Bank Ltd. bought a new position in shares of Freeport-McMoRan during the 4th quarter worth $26,000. Vision Financial Markets LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth $27,000. Laurel Wealth Advisors LLC grew its stake in shares of Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after acquiring an additional 600 shares during the period. Finally, Roxbury Financial LLC bought a new position in Freeport-McMoRan in the 4th quarter worth about $28,000. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded up $1.25 during trading hours on Monday, reaching $39.11. 15,642,137 shares of the stock traded hands, compared to its average volume of 13,688,142. The company has a market capitalization of $56.20 billion, a P/E ratio of 30.31, 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. Freeport-McMoRan Inc. has a 52-week low of $27.66 and a 52-week high of $55.24. The company's 50-day simple moving average is $36.29 and its two-hundred day simple moving average is $39.12.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The business's quarterly revenue was down 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.53%. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Wall Street Analyst Weigh In

Several brokerages have commented on FCX. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a research note on Thursday, March 6th. UBS Group cut their target price on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. StockNews.com downgraded Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Scotiabank cut their target price on Freeport-McMoRan from $45.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Finally, Raymond James restated an "outperform" rating and issued a $52.00 target price on shares of Freeport-McMoRan in a research note on Friday, April 25th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $48.09.

Freeport-McMoRan Company 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.