Tamar Securities LLC Acquires 54,388 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Tamar Securities LLC lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,624 shares of the natural resource company's stock after buying an additional 54,388 shares during the period. Freeport-McMoRan makes up approximately 2.8% of Tamar Securities LLC's investment portfolio, making the stock its 11th biggest position. Tamar Securities LLC's holdings in Freeport-McMoRan were worth $14,117,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in Freeport-McMoRan by 102.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,698,016 shares of the natural resource company's stock valued at $355,838,000 after purchasing an additional 4,410,429 shares in the last quarter. Capital Wealth Planning LLC acquired a new position in Freeport-McMoRan during the third quarter valued at approximately $160,160,000. Mizuho Markets Americas LLC acquired a new position in Freeport-McMoRan during the third quarter valued at approximately $141,407,000. Imprint Wealth LLC raised its position in Freeport-McMoRan by 1,678.9% during the second quarter. Imprint Wealth LLC now owns 2,098,587 shares of the natural resource company's stock valued at $209,859,000 after purchasing an additional 1,980,616 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its position in Freeport-McMoRan by 57.4% during the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company's stock valued at $201,039,000 after purchasing an additional 1,965,987 shares in the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Trading Up 0.6 %

Shares of Freeport-McMoRan stock traded up $0.29 during trading on Friday, hitting $49.47. The company's stock had a trading volume of 13,774,524 shares, compared to its average volume of 15,425,027. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. Freeport-McMoRan Inc. has a 52 week low of $32.83 and a 52 week high of $50.24. The stock has a market cap of $70.96 billion, a price-to-earnings ratio of 38.95 and a beta of 2.04. The stock has a 50-day moving average price of $41.41 and a two-hundred day moving average price of $39.02.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The company had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.85 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Freeport-McMoRan's revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that Freeport-McMoRan Inc. will post 1.51 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. Freeport-McMoRan's dividend payout ratio is 23.62%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of Freeport-McMoRan from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Wednesday, December 13th. Raymond James upped their price target on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the stock an "outperform" rating in a report on Thursday, January 4th. Royal Bank of Canada reiterated a "sector perform" rating and set a $55.00 price target on shares of Freeport-McMoRan in a report on Thursday, January 25th. Finally, Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $41.00 to $48.50 in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $44.95.

Freeport-McMoRan 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.