RWA Wealth Partners LLC Has $2.12 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

RWA Wealth Partners LLC increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 41.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,882 shares of the natural resource company’s stock after acquiring an additional 14,679 shares during the quarter. RWA Wealth Partners LLC’s holdings in Freeport-McMoRan were worth $2,123,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Mengis Capital Management Inc. increased its holdings in shares of Freeport-McMoRan by 18.1% during the 4th quarter. Mengis Capital Management Inc. now owns 22,870 shares of the natural resource company’s stock worth $974,000 after acquiring an additional 3,500 shares during the last quarter. MCF Advisors LLC grew its holdings in Freeport-McMoRan by 15.3% in the 4th quarter. MCF Advisors LLC now owns 3,227 shares of the natural resource company’s stock valued at $137,000 after buying an additional 429 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Freeport-McMoRan by 11.4% in the 4th quarter. Handelsbanken Fonder AB now owns 564,017 shares of the natural resource company’s stock valued at $24,010,000 after buying an additional 57,778 shares in the last quarter. CWM LLC grew its holdings in Freeport-McMoRan by 6.3% in the 4th quarter. CWM LLC now owns 37,394 shares of the natural resource company’s stock valued at $1,592,000 after buying an additional 2,220 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its holdings in Freeport-McMoRan by 1.8% in the 4th quarter. Riggs Asset Managment Co. Inc. now owns 39,940 shares of the natural resource company’s stock valued at $1,700,000 after buying an additional 722 shares in the last quarter. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

Freeport-McMoRan stock opened at $48.00 on Wednesday. The company has a current ratio of 2.42, a quick ratio of 1.38 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $68.85 billion, a PE ratio of 37.80, a P/E/G ratio of 2.25 and a beta of 2.04. Freeport-McMoRan Inc. has a 12 month low of $32.83 and a 12 month high of $52.42. The stock has a 50-day moving average price of $44.02 and a two-hundred day moving average price of $40.14.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. Analysts expect that Freeport-McMoRan Inc. will post 1.57 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a $0.15 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.25%. Freeport-McMoRan’s dividend payout ratio is presently 23.62%.

Analysts Set New Price Targets

FCX has been the topic of a number of research reports. Sanford C. Bernstein raised Freeport-McMoRan from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $41.00 to $48.50 in a report on Monday, January 8th. JPMorgan Chase & Co. upped their target price on Freeport-McMoRan from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. HSBC upped their target price on Freeport-McMoRan from $39.00 to $45.00 and gave the company a “hold” rating in a research report on Tuesday. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Freeport-McMoRan in a research report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.15.

Freeport-McMoRan Company 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.