Heck Capital Advisors LLC Makes New Investment in Freeport-McMoRan Inc. (NYSE:FCX)

Heck Capital Advisors LLC acquired a new position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,065 shares of the natural resource company's stock, valued at approximately $383,000.

Several other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in Freeport-McMoRan by 237.4% in the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock valued at $351,041,000 after acquiring an additional 6,486,011 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Freeport-McMoRan by 21.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock worth $1,214,203,000 after purchasing an additional 5,735,171 shares during the last quarter. Amundi raised its holdings in shares of Freeport-McMoRan by 30.2% in the 4th quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock worth $857,305,000 after purchasing an additional 5,001,531 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Freeport-McMoRan by 38.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock worth $619,682,000 after purchasing an additional 4,488,210 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Freeport-McMoRan by 8.0% in the 4th quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock worth $1,123,445,000 after purchasing an additional 2,191,926 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FCX. Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Raymond James reiterated an "outperform" rating and issued a $52.00 target price on shares of Freeport-McMoRan in a report on Friday, April 25th. Scotiabank boosted their target price on shares of Freeport-McMoRan from $40.00 to $43.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 14th. Jefferies Financial Group reiterated a "buy" rating and issued a $50.00 target price (up from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Finally, Wall Street Zen downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan Trading Down 1.5%

Shares of FCX stock traded down $0.57 during trading hours on Friday, reaching $38.46. 17,234,797 shares of the stock traded hands, compared to its average volume of 13,450,098. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $53.15. The business has a fifty 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. The firm has a market capitalization 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 announced its quarterly earnings data 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. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm's revenue was down 9.4% on a year-over-year basis. On average, equities research analysts forecast that Freeport-McMoRan Inc. will post 1.68 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given 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 was Tuesday, April 15th. Freeport-McMoRan's payout ratio is presently 24.79%.

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.