Freeport-McMoRan Inc. $FCX Shares Purchased by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC lifted its position in Freeport-McMoRan Inc. (NYSE:FCX) by 66.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,551 shares of the natural resource company’s stock after acquiring an additional 19,313 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Freeport-McMoRan were worth $2,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in FCX. Brighton Jones LLC boosted its stake in shares of Freeport-McMoRan by 24.2% in the fourth quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock worth $564,000 after acquiring an additional 2,882 shares during the last quarter. Bison Wealth LLC boosted its stake in shares of Freeport-McMoRan by 5.6% in the fourth quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock worth $366,000 after acquiring an additional 507 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Freeport-McMoRan in the second quarter worth approximately $560,000. Brown Advisory Inc. boosted its stake in shares of Freeport-McMoRan by 27.0% in the second quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock worth $539,000 after acquiring an additional 2,648 shares during the last quarter. Finally, Jump Financial LLC boosted its stake in shares of Freeport-McMoRan by 42.7% in the second quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock worth $2,172,000 after acquiring an additional 14,992 shares during the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $62.18 on Thursday. The stock’s fifty day moving average is $63.95 and its two-hundred day moving average is $58.80. The firm has a market capitalization of $89.39 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 0.77 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.13 and a current ratio of 2.39. Freeport-McMoRan Inc. has a fifty-two week low of $35.15 and a fifty-two week high of $72.09.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings data on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 2.56 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were given a $0.075 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s payout ratio is currently 15.96%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FCX. Bank of America lifted their price target on Freeport-McMoRan from $68.00 to $81.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. HSBC lifted their price target on Freeport-McMoRan from $69.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. UBS Group lifted their price target on Freeport-McMoRan from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Scotiabank lowered their price objective on Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating on the stock in a research note on Friday, April 24th. Finally, Stifel Nicolaus boosted their price objective on Freeport-McMoRan from $52.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.72.

About Freeport-McMoRan

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.