FLC Capital Advisors Has $357,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

FLC Capital Advisors boosted its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 13.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,364 shares of the natural resource company’s stock after acquiring an additional 1,100 shares during the period. FLC Capital Advisors’ holdings in Freeport-McMoRan were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Deane Retirement Strategies Inc. increased its holdings in Freeport-McMoRan by 0.4% during the 3rd quarter. Deane Retirement Strategies Inc. now owns 47,144 shares of the natural resource company’s stock worth $2,357,000 after purchasing an additional 201 shares in the last quarter. Koshinski Asset Management Inc. raised its position in Freeport-McMoRan by 1.0% in the 3rd quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock valued at $1,037,000 after buying an additional 214 shares during the last quarter. Trust Co. of Vermont lifted its stake in Freeport-McMoRan by 5.2% in the 3rd quarter. Trust Co. of Vermont now owns 4,577 shares of the natural resource company’s stock valued at $228,000 after acquiring an additional 228 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in Freeport-McMoRan by 2.0% during the 3rd quarter. Fidelis Capital Partners LLC now owns 11,681 shares of the natural resource company’s stock worth $560,000 after acquiring an additional 231 shares during the last quarter. Finally, Prospera Private Wealth LLC grew its stake in shares of Freeport-McMoRan by 4.4% during the 3rd quarter. Prospera Private Wealth LLC now owns 5,548 shares of the natural resource company’s stock worth $277,000 after acquiring an additional 234 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Up 0.6 %

FCX stock opened at $40.27 on Monday. Freeport-McMoRan Inc. has a 1-year low of $36.26 and a 1-year high of $55.24. The business’s 50 day simple moving average is $41.25 and its 200 day simple moving average is $44.27. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $57.86 billion, a PE ratio of 29.39, a PEG ratio of 2.13 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Tuesday, October 22nd. The natural resource company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.45 billion. During the same quarter in the prior year, the business earned $0.39 EPS. Freeport-McMoRan’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 1.46 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, January 15th. Freeport-McMoRan’s dividend payout ratio is currently 21.90%.

Analyst Ratings Changes

A number of analysts have recently commented on FCX shares. JPMorgan Chase & Co. cut their price objective on shares of Freeport-McMoRan from $55.00 to $48.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group reduced their price objective on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Scotiabank reduced their price target on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a research report on Monday, January 6th. Finally, Sanford C. Bernstein lowered Freeport-McMoRan from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $51.00 to $46.00 in a research report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and an average price target of $52.42.

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.