Evelyn Partners Investment Management LLP Has $23.23 Million Holdings in Freeport-McMoRan Inc. $FCX

Evelyn Partners Investment Management LLP boosted its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 13.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 395,226 shares of the natural resource company’s stock after purchasing an additional 45,683 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Freeport-McMoRan were worth $23,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FCX. Pinnacle Bancorp Inc. raised its position in Freeport-McMoRan by 7.9% in the 1st quarter. Pinnacle Bancorp Inc. now owns 2,011 shares of the natural resource company’s stock valued at $118,000 after buying an additional 147 shares during the last quarter. Steph & Co. grew its stake in shares of Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company’s stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Essex Bank grew its stake in shares of Freeport-McMoRan by 1.2% during the 1st quarter. Essex Bank now owns 14,104 shares of the natural resource company’s stock worth $829,000 after acquiring an additional 163 shares in the last quarter. Leo Wealth LLC raised its holdings in shares of Freeport-McMoRan by 2.5% in the fourth quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock valued at $347,000 after purchasing an additional 170 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its position in shares of Freeport-McMoRan by 0.9% in the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 18,674 shares of the natural resource company’s stock worth $1,098,000 after purchasing an additional 175 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FCX shares. UBS Group lifted their price target on shares of Freeport-McMoRan from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. BNP Paribas Exane raised their price objective on Freeport-McMoRan from $71.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Wells Fargo & Company lifted their target price on Freeport-McMoRan from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup reiterated a “positive” rating on shares of Freeport-McMoRan in a report on Wednesday, July 15th. Finally, Raymond James Financial reduced their price target on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Freeport-McMoRan Stock Performance

NYSE FCX opened at $62.62 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 0.92 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average price is $63.62 and its two-hundred day moving average price is $62.43. Freeport-McMoRan Inc. has a 1 year low of $35.15 and a 1 year high of $72.28. The firm has a market capitalization of $90.02 billion, a P/E ratio of 30.85, a price-to-earnings-growth ratio of 0.61 and a beta of 1.37.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, July 23rd. The natural resource company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The company had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a net margin of 11.39% and a return on equity of 10.63%. The company’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. As a group, research analysts anticipate that Freeport-McMoRan Inc. will post 2.75 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, July 15th. Freeport-McMoRan’s dividend payout ratio (DPR) is 14.78%.

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.