SageView Advisory Group LLC Buys Shares of 7,986 Freeport-McMoRan Inc. (NYSE:FCX)

SageView Advisory Group LLC purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,986 shares of the natural resource company’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FCX. Asset Planning Inc bought a new stake in Freeport-McMoRan during the 4th quarter worth approximately $25,000. Mizuho Bank Ltd. bought a new stake in shares of Freeport-McMoRan in the fourth quarter worth $26,000. Vision Financial Markets LLC acquired a new stake in Freeport-McMoRan in the fourth quarter valued at $27,000. Laurel Wealth Advisors LLC raised its position in Freeport-McMoRan by 487.8% during the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock worth $28,000 after purchasing an additional 600 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new position in Freeport-McMoRan during the 4th quarter worth about $28,000. 80.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FCX has been the subject of a number of analyst reports. Jefferies Financial Group upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price objective for the stock from $40.00 to $48.00 in a research report on Thursday, February 27th. Argus lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Raymond James upped their price objective on shares of Freeport-McMoRan from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. JPMorgan Chase & Co. lowered their target price on shares of Freeport-McMoRan from $52.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Finally, Sanford C. Bernstein cut shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and cut their price target for the company from $51.00 to $46.00 in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.12.

Freeport-McMoRan Trading Down 1.2 %

Shares of Freeport-McMoRan stock opened at $33.34 on Wednesday. The stock has a market capitalization of $47.91 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.71. Freeport-McMoRan Inc. has a 52 week low of $27.66 and a 52 week high of $55.24. The stock has a 50 day moving average price of $36.96 and a two-hundred day moving average price of $40.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.80%. Freeport-McMoRan’s dividend payout ratio is presently 23.26%.

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.