Signature Estate & Investment Advisors LLC Has $14.73 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Signature Estate & Investment Advisors LLC boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 345,917 shares of the natural resource company's stock after acquiring an additional 20,894 shares during the quarter. Signature Estate & Investment Advisors LLC's holdings in Freeport-McMoRan were worth $14,726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCX. Fairfield Bush & CO. acquired a new stake in shares of Freeport-McMoRan in the first quarter valued at $26,000. Bruce G. Allen Investments LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth $27,000. KB Financial Partners LLC acquired a new position in Freeport-McMoRan during the 1st quarter worth $26,000. Retirement Group LLC lifted its holdings in Freeport-McMoRan by 97.1% during the 2nd quarter. Retirement Group LLC now owns 670 shares of the natural resource company's stock worth $27,000 after buying an additional 330 shares during the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. purchased a new stake in Freeport-McMoRan during the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Stock Performance

NYSE FCX traded down $0.18 on Thursday, hitting $50.74. 12,955,702 shares of the company's stock were exchanged, compared to its average volume of 13,479,421. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. The firm's 50-day moving average price is $42.27 and its two-hundred day moving average price is $39.38. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $52.03. The firm has a market cap of $72.78 billion, a price-to-earnings ratio of 39.95, a P/E/G ratio of 1.23 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. The company had revenue of $5.91 billion for the quarter, compared to analysts' expectations of $5.85 billion. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, research analysts expect that Freeport-McMoRan Inc. will post 1.53 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan's dividend payout ratio is currently 23.62%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FCX shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $55.00 target price on shares of Freeport-McMoRan in a report on Thursday, January 25th. Raymond James boosted their target price on Freeport-McMoRan from $42.00 to $43.00 and gave the company an "outperform" rating in a report on Thursday, January 4th. Sanford C. Bernstein raised Freeport-McMoRan from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $41.00 to $48.50 in a report on Monday, January 8th. Bank of America raised Freeport-McMoRan from a "neutral" rating to a "buy" rating and set a $59.00 target price for the company in a report on Tuesday. Finally, Scotiabank boosted their target price on Freeport-McMoRan from $48.00 to $55.00 and gave the company a "sector outperform" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Freeport-McMoRan has an average rating of "Hold" and an average target price of $46.71.

About Freeport-McMoRan

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.