Cypress Asset Management Inc. TX Makes New Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Cypress Asset Management Inc. TX bought a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,098 shares of the natural resource company's stock, valued at approximately $351,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FCX. Wesbanco Bank Inc. grew its position in Freeport-McMoRan by 12.5% in the 4th quarter. Wesbanco Bank Inc. now owns 5,321 shares of the natural resource company's stock worth $203,000 after purchasing an additional 591 shares during the last quarter. Mutual Advisors LLC grew its position in Freeport-McMoRan by 5.4% in the 4th quarter. Mutual Advisors LLC now owns 15,859 shares of the natural resource company's stock worth $635,000 after purchasing an additional 812 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company's stock valued at $564,000 after acquiring an additional 2,882 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Freeport-McMoRan by 7.1% in the fourth quarter. Fifth Third Bancorp now owns 744,889 shares of the natural resource company's stock valued at $28,365,000 after acquiring an additional 49,213 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Freeport-McMoRan by 41.3% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 24,060 shares of the natural resource company's stock valued at $916,000 after acquiring an additional 7,032 shares in the last quarter. Institutional investors own 80.77% of the company's stock.

Freeport-McMoRan Trading Up 0.4%

Shares of NYSE:FCX traded up $0.17 during mid-day trading on Thursday, hitting $39.06. The stock had a trading volume of 8,919,537 shares, compared to its average volume of 13,445,945. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. The company has a market cap of $56.12 billion, a PE ratio of 30.28, a P/E/G ratio of 0.87 and a beta of 1.65. Freeport-McMoRan Inc. has a 12-month low of $27.66 and a 12-month high of $53.29. The company's 50 day moving average is $36.42 and its 200-day moving average is $38.52.

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

Freeport-McMoRan Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders 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 yield of 1.54%. Freeport-McMoRan's payout ratio is 24.79%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Raymond James reiterated an "outperform" rating and issued a $52.00 price objective on shares of Freeport-McMoRan in a report on Friday, April 25th. Wall Street Zen cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective for the company in a report on Thursday, March 6th. Hsbc Global Res upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Finally, Dbs Bank raised shares of 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 issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Freeport-McMoRan has a consensus rating of "Moderate Buy" and a consensus price target 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.