Sava Infond d.o.o. Invests $152,000 in Freeport-McMoRan Inc. (NYSE:FCX)

Sava Infond d.o.o. acquired a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,000 shares of the natural resource company’s stock, valued at approximately $152,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Asset Planning Inc acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $25,000. Vision Financial Markets LLC bought a new position in Freeport-McMoRan in the 4th quarter valued at approximately $27,000. Laurel Wealth Advisors LLC boosted its position in Freeport-McMoRan by 487.8% in the fourth quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares in the last quarter. Roxbury Financial LLC bought a new stake in shares of Freeport-McMoRan during the fourth quarter worth $28,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of Freeport-McMoRan during the fourth quarter worth $29,000. Institutional investors own 80.77% of the company’s stock.

Freeport-McMoRan Stock Performance

FCX opened at $39.99 on Friday. The company has a market cap of $57.47 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 0.87 and a beta of 1.87. The company’s fifty day moving average price is $38.18 and its two-hundred day moving average price is $41.98. Freeport-McMoRan Inc. has a 1-year low of $33.98 and a 1-year high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share 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%. On average, analysts expect that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.50%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 23.26%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Argus cut Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Sanford C. Bernstein lowered shares of Freeport-McMoRan from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $51.00 to $46.00 in a report on Tuesday, January 7th. StockNews.com lowered shares of Freeport-McMoRan from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. upgraded shares of Freeport-McMoRan from a “neutral” rating to an “overweight” rating and upped their price target for the company from $48.00 to $52.00 in a research report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Freeport-McMoRan currently has a consensus rating of “Moderate Buy” and an average target price of $52.04.

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.