Oliver Luxxe Assets LLC Buys 2,548 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Oliver Luxxe Assets LLC increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 1.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 142,486 shares of the natural resource company’s stock after acquiring an additional 2,548 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Freeport-McMoRan were worth $5,426,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in shares of Freeport-McMoRan by 2.4% in the 3rd quarter. Fisher Asset Management LLC now owns 59,409,395 shares of the natural resource company’s stock valued at $2,965,717,000 after acquiring an additional 1,392,494 shares in the last quarter. Geode Capital Management LLC raised its stake in Freeport-McMoRan by 1.9% in the third quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company’s stock valued at $1,436,455,000 after purchasing an additional 529,099 shares in the last quarter. Franklin Resources Inc. lifted its position in Freeport-McMoRan by 9.5% during the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company’s stock valued at $1,348,522,000 after purchasing an additional 2,366,187 shares during the last quarter. Mountaineer Partners Management LLC grew its stake in Freeport-McMoRan by 4,767.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after buying an additional 11,687,982 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Freeport-McMoRan by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,028,452 shares of the natural resource company’s stock worth $536,038,000 after buying an additional 530,676 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 2.6 %

NYSE FCX traded up $0.97 during trading on Monday, hitting $38.68. The company had a trading volume of 11,471,947 shares, compared to its average volume of 9,970,509. The company’s fifty day moving average is $42.64 and its 200-day moving average is $44.96. The company has a market cap of $55.58 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 3.00 and a beta of 1.87. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a one year low of $36.26 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The business had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.45 billion. During the same period last year, the business posted $0.39 earnings per share. Freeport-McMoRan’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that Freeport-McMoRan Inc. will post 1.49 earnings per share for the current year.

Freeport-McMoRan Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.55%. This is a boost from Freeport-McMoRan’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Wednesday, January 15th. Freeport-McMoRan’s dividend payout ratio is presently 21.90%.

Analyst Ratings Changes

FCX has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on Freeport-McMoRan from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, October 15th. Raymond James raised their price objective on Freeport-McMoRan from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group cut their target price on Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday. Finally, Scotiabank decreased their price target on shares of Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Monday. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.15.

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.