Freeport-McMoRan Inc. (NYSE:FCX) Shares Bought by Focus Partners Wealth

Focus Partners Wealth increased its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1,794.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,840 shares of the natural resource company's stock after purchasing an additional 350,313 shares during the period. Focus Partners Wealth's holdings in Freeport-McMoRan were worth $14,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Planning Inc purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at $25,000. Mizuho Bank Ltd. purchased a new stake in Freeport-McMoRan during the fourth quarter worth $26,000. Vision Financial Markets LLC purchased a new stake in Freeport-McMoRan during the fourth quarter worth $27,000. Laurel Wealth Advisors LLC boosted its holdings in Freeport-McMoRan by 487.8% during the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock worth $28,000 after buying an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC purchased a new stake in Freeport-McMoRan during the fourth quarter worth $28,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FCX has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a "buy" rating and set a $50.00 price target (up from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. UBS Group lowered their price target on shares of Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Dbs Bank raised shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Wolfe Research raised shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price target on the stock in a report on Wednesday, April 16th. Finally, StockNews.com downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Five 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 company currently has an average rating of "Moderate Buy" and an average price target of $48.09.

Freeport-McMoRan Price Performance

Shares of NYSE FCX opened at $39.11 on Tuesday. The firm has a 50-day simple moving average of $36.31 and a 200-day simple moving average of $39.06. The stock has a market capitalization of $56.20 billion, a price-to-earnings 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.

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 business had revenue of $5.73 billion during the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. The company's quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 earnings per share. On average, equities analysts predict that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Announces Dividend

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

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