Ameriflex Group Inc. Purchases Shares of 6,717 Freeport-McMoRan Inc. (NYSE:FCX)

Ameriflex Group Inc. acquired a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,717 shares of the natural resource company's stock, valued at approximately $241,000.

Several other hedge funds also recently modified their holdings of the company. Asset Planning Inc acquired a new position in Freeport-McMoRan during the fourth quarter worth about $25,000. Mizuho Bank Ltd. acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $26,000. Vision Financial Markets LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $27,000. Roxbury Financial LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan in the 4th quarter worth approximately $29,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Down 1.5%

Shares of Freeport-McMoRan stock traded down $0.57 on Friday, hitting $38.46. 17,234,797 shares of the company traded hands, compared to its average volume of 13,450,098. The company has a 50-day moving average price of $36.27 and a 200 day moving average price of $38.41. 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 12-month low of $27.66 and a 12-month high of $53.15. The company has a market cap of $55.27 billion, a PE ratio of 29.81, a PEG ratio of 0.87 and a beta of 1.65.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. Sell-side analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio (DPR) is 24.79%.

Analyst Ratings Changes

Several research analysts have issued reports on FCX shares. Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Hsbc Global Res raised Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Wall Street Zen cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Raymond James reissued an "outperform" rating and issued a $52.00 price target on shares of Freeport-McMoRan in a research note on Friday, April 25th. Finally, UBS Group dropped their target price on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. 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 stock. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.36.

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.