Syon Capital LLC Acquires 2,815 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Syon Capital LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 33.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,289 shares of the natural resource company’s stock after purchasing an additional 2,815 shares during the quarter. Syon Capital LLC’s holdings in Freeport-McMoRan were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CM Management LLC boosted its holdings in shares of Freeport-McMoRan by 80.0% during the 3rd quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock worth $1,342,000 after buying an additional 16,000 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in Freeport-McMoRan by 6.4% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock worth $14,726,000 after acquiring an additional 20,894 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Freeport-McMoRan by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock worth $279,977,000 after purchasing an additional 102,466 shares during the period. Cadinha & Co. LLC increased its stake in Freeport-McMoRan by 59.0% in the fourth quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock valued at $27,572,000 after purchasing an additional 240,340 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its holdings in shares of 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 during the period. Institutional investors own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $41.00 to $48.50 in a report on Monday, January 8th. Royal Bank of Canada reiterated 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 lifted their price target on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Freeport-McMoRan from $52.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.07.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $50.48 on Friday. The company has a fifty day moving average price of $44.47 and a 200-day moving average price of $40.26. The firm has a market cap of $72.41 billion, a price-to-earnings ratio of 44.67, a PEG ratio of 8.00 and a beta of 2.04. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.38. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $52.42.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a net margin of 6.97% and a return on equity of 7.17%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. As a group, equities research analysts predict that Freeport-McMoRan Inc. will post 1.67 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, April 12th. Freeport-McMoRan’s dividend payout ratio is presently 26.55%.

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.