Freeport-McMoRan (NYSE:FCX) Given New $45.00 Price Target at UBS Group

Freeport-McMoRan (NYSE:FCX - Free Report) had its target price decreased by UBS Group from $52.00 to $45.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. UBS Group currently has a buy rating on the natural resource company's stock.

Several other research analysts have also issued reports on FCX. Sanford C. Bernstein lowered Freeport-McMoRan from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Argus cut Freeport-McMoRan from a "buy" rating to a "hold" rating in a report on Friday, January 31st. StockNews.com downgraded shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price objective on shares of Freeport-McMoRan from $52.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Raymond James boosted their target price on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Freeport-McMoRan presently has an average rating of "Moderate Buy" and a consensus target price of $48.39.

Freeport-McMoRan Price Performance

Shares of NYSE FCX traded down $0.42 during mid-day trading on Tuesday, hitting $32.90. 16,986,273 shares of the stock traded hands, compared to its average volume of 13,887,260. Freeport-McMoRan has a twelve month low of $27.66 and a twelve month high of $55.24. The firm has a 50 day simple moving average of $36.66 and a two-hundred day simple moving average of $40.44. 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 company has a market cap of $47.28 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. As a group, equities research analysts forecast that Freeport-McMoRan will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.82%. Freeport-McMoRan's payout ratio is 23.26%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Westside Investment Management Inc. boosted its stake in shares of Freeport-McMoRan by 33.0% in the 3rd quarter. Westside Investment Management Inc. now owns 7,867 shares of the natural resource company's stock worth $373,000 after buying an additional 1,950 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in shares of Freeport-McMoRan by 5.0% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 10,306 shares of the natural resource company's stock worth $514,000 after purchasing an additional 490 shares during the last quarter. World Investment Advisors LLC purchased a new position in Freeport-McMoRan in the third quarter valued at approximately $246,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Freeport-McMoRan in the third quarter valued at $754,000. Finally, Tidal Investments LLC grew its stake in shares of Freeport-McMoRan by 6.2% during the 3rd quarter. Tidal Investments LLC now owns 155,081 shares of the natural resource company's stock worth $7,742,000 after acquiring an additional 8,995 shares during the period. Institutional investors own 80.77% of the company's stock.

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.