Numerai GP LLC Takes $256,000 Position in Freeport-McMoRan Inc. (NYSE:FCX)

Numerai GP LLC acquired a new stake 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 firm acquired 6,712 shares of the natural resource company's stock, valued at approximately $256,000.

Other large investors also recently bought and sold shares of the company. Miracle Mile Advisors LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth approximately $784,000. FNY Investment Advisers LLC bought a new position in Freeport-McMoRan during the 4th quarter valued at $57,000. SeaCrest Wealth Management LLC grew its holdings in Freeport-McMoRan by 1.6% during the 4th quarter. SeaCrest Wealth Management LLC now owns 19,104 shares of the natural resource company's stock worth $727,000 after acquiring an additional 307 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Freeport-McMoRan by 17.0% in the 4th quarter. Park Avenue Securities LLC now owns 25,714 shares of the natural resource company's stock worth $979,000 after purchasing an additional 3,728 shares during the last quarter. Finally, Laurel Wealth Advisors LLC raised its stake in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company's stock valued at $28,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. UBS Group reduced their price objective on Freeport-McMoRan from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Hsbc Global Res upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Deutsche Bank Aktiengesellschaft upgraded Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price objective on the stock in a research note on Thursday, March 6th. Finally, Wolfe Research upgraded Freeport-McMoRan from a "peer perform" rating to an "outperform" rating and set a $39.00 price objective on the stock in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan Stock Performance

Shares of NYSE:FCX traded up $0.76 on Monday, hitting $38.78. The company's stock had a trading volume of 11,103,723 shares, compared to its average volume of 13,620,223. Freeport-McMoRan Inc. has a 12 month low of $27.66 and a 12 month high of $55.24. The stock's 50-day moving average is $36.51 and its two-hundred day moving average is $38.86. 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 capitalization of $55.73 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 0.87 and a beta of 1.65.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $5.73 billion during 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 business's revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. 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 declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 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.