LVZ Inc. Acquires 1,272 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

LVZ Inc. increased its holdings in Freeport-McMoRan Inc. (NYSE:FCXFree Report) by 10.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,100 shares of the natural resource company’s stock after acquiring an additional 1,272 shares during the quarter. LVZ Inc.’s holdings in Freeport-McMoRan were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its position in Freeport-McMoRan by 122.5% during the 4th quarter. Venturi Wealth Management LLC now owns 930 shares of the natural resource company’s stock valued at $40,000 after purchasing an additional 512 shares during the last quarter. Parcion Private Wealth LLC grew its position in Freeport-McMoRan by 0.6% during the 4th quarter. Parcion Private Wealth LLC now owns 86,500 shares of the natural resource company’s stock valued at $3,682,000 after purchasing an additional 500 shares during the last quarter. Webster Bank N. A. grew its position in Freeport-McMoRan by 6,469.2% during the 4th quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock valued at $36,000 after purchasing an additional 841 shares during the last quarter. Iowa State Bank grew its position in Freeport-McMoRan by 0.9% during the 4th quarter. Iowa State Bank now owns 44,889 shares of the natural resource company’s stock valued at $1,911,000 after purchasing an additional 381 shares during the last quarter. Finally, Stonegate Investment Group LLC boosted its holdings in shares of Freeport-McMoRan by 1.3% during the 4th quarter. Stonegate Investment Group LLC now owns 27,165 shares of the natural resource company’s stock valued at $1,156,000 after acquiring an additional 337 shares during the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on FCX shares. Morgan Stanley dropped their price target on shares of Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, December 7th. Raymond James raised their price target on shares of 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 shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and raised their price target for the company from $41.00 to $48.50 in a report on Monday, January 8th. UBS Group lowered their price objective on shares of Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 13th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, January 25th. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $44.95.

View Our Latest Report on Freeport-McMoRan

Freeport-McMoRan Stock Performance

NYSE FCX traded up $0.99 on Wednesday, reaching $49.37. 7,754,356 shares of the stock were exchanged, compared to its average volume of 13,005,641. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $49.65. The firm has a market capitalization of $70.82 billion, a PE ratio of 38.11 and a beta of 2.04. The company’s 50-day simple moving average is $40.82 and its two-hundred day simple moving average is $38.81. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32.

Freeport-McMoRan (NYSE:FCXGet Free Report) last released its earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the business earned $0.52 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Analysts expect that Freeport-McMoRan Inc. will post 1.57 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Friday, April 12th. Freeport-McMoRan’s payout ratio is 23.62%.

About Freeport-McMoRan

(Free Report)

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.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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