HCR Wealth Advisors Acquires 522 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

HCR Wealth Advisors boosted its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,736 shares of the natural resource company’s stock after acquiring an additional 522 shares during the quarter. HCR Wealth Advisors’ holdings in Freeport-McMoRan were worth $1,170,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FCX. Deane Retirement Strategies Inc. raised 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 valued at $2,357,000 after buying an additional 201 shares during the period. Koshinski Asset Management Inc. increased its position in Freeport-McMoRan by 1.0% during the third quarter. Koshinski Asset Management Inc. now owns 20,777 shares of the natural resource company’s stock valued at $1,037,000 after acquiring an additional 214 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Freeport-McMoRan by 5.2% in the third 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 during the period. Fidelis Capital Partners LLC lifted its holdings in shares of Freeport-McMoRan by 2.0% in 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 boosted 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 purchasing an additional 234 shares during the period. 80.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FCX. Jefferies Financial Group reduced their price objective on shares of Freeport-McMoRan from $60.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Raymond James increased their price target on Freeport-McMoRan from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Scotiabank dropped their price objective on Freeport-McMoRan from $52.00 to $48.00 and set a “sector perform” rating for the company in a report on Monday, January 6th. Morgan Stanley reduced their target price on Freeport-McMoRan from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Freeport-McMoRan from $53.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, October 15th. Seven 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 company. According to data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.96.

Freeport-McMoRan Trading Up 1.4 %

NYSE FCX opened at $40.04 on Thursday. Freeport-McMoRan Inc. has a one year low of $36.26 and a one year high of $55.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 2.33. The company has a market capitalization of $57.53 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.90 and a beta of 1.87. The company’s 50-day simple moving average is $41.67 and its two-hundred day simple moving average is $44.46.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Tuesday, October 22nd. The natural resource company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.45 billion. Freeport-McMoRan had a net margin of 7.81% and a return on equity of 7.40%. The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. Equities analysts forecast that Freeport-McMoRan Inc. will post 1.49 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, January 15th. Freeport-McMoRan’s payout ratio is 43.80%.

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.