NorthRock Partners LLC Acquires 9,172 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

NorthRock Partners LLC raised its position in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 101.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,252 shares of the natural resource company's stock after purchasing an additional 9,172 shares during the period. NorthRock Partners LLC's holdings in Freeport-McMoRan were worth $695,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Madison Investment Advisors LLC bought a new stake in Freeport-McMoRan in the fourth quarter valued at approximately $3,388,000. Vanguard Group Inc. boosted its holdings in shares of Freeport-McMoRan by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 123,219,298 shares of the natural resource company's stock valued at $4,692,191,000 after buying an additional 642,776 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Freeport-McMoRan by 237.4% in the fourth quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock valued at $351,041,000 after buying an additional 6,486,011 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Freeport-McMoRan by 5.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 159,536 shares of the natural resource company's stock valued at $6,075,000 after buying an additional 8,195 shares during the period. Finally, PGGM Investments boosted its holdings in shares of Freeport-McMoRan by 220.3% in the fourth quarter. PGGM Investments now owns 40,467 shares of the natural resource company's stock valued at $1,541,000 after buying an additional 27,834 shares during the period. Institutional investors own 80.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FCX shares. Jefferies Financial Group reiterated a "buy" rating and issued a $50.00 price target (up previously from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Raymond James reiterated an "outperform" rating and issued a $52.00 price target on shares of Freeport-McMoRan in a report on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a report on Monday, March 10th. Finally, Wolfe Research upgraded shares of Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 target price for the company in a report on Wednesday, April 16th. Five equities research 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, the company has an average rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan Stock Performance

FCX stock traded up $0.76 during trading hours on Monday, reaching $38.78. The stock had a trading volume of 11,103,723 shares, compared to its average volume of 13,620,223. The stock has a market capitalization of $55.73 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. The stock has a 50-day simple moving average of $36.51 and a 200 day simple moving average of $38.86. Freeport-McMoRan Inc. has a fifty-two week low of $27.66 and a fifty-two week high of $55.24.

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

Freeport-McMoRan Announces Dividend

The business 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. This represents a $0.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend 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.