Syon Capital LLC Has $481,000 Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Syon Capital LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 33.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bruce G. Allen Investments LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth about $27,000. BluePath Capital Management LLC acquired a new position in Freeport-McMoRan in the third quarter worth about $28,000. Webster Bank N. A. lifted its stake in Freeport-McMoRan by 6,469.2% during the fourth quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock worth $36,000 after purchasing an additional 841 shares during the period. CVA Family Office LLC acquired a new stake in Freeport-McMoRan during the fourth quarter valued at approximately $38,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Freeport-McMoRan by 122.5% in 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 period. 80.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FCX shares. Bernstein Bank raised their target price on Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a research report on Tuesday. HSBC increased their price objective on Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a research note on Tuesday. Raymond James boosted their target price on shares of Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday. Argus increased their target price on shares of Freeport-McMoRan from $44.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, StockNews.com raised shares of Freeport-McMoRan from a “hold” rating to a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.07.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $50.48 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.38. The firm has a 50 day simple moving average of $44.47 and a 200 day simple moving average of $40.26. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two week high of $52.42. The firm has a market cap of $72.41 billion, a P/E ratio of 44.67, a P/E/G ratio of 8.00 and a beta of 2.04.

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

Freeport-McMoRan Announces Dividend

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

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.