5,318 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by PDS Planning Inc

PDS Planning Inc purchased a new stake in Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,318 shares of the natural resource company’s stock, valued at approximately $226,000.

A number of other large investors also recently modified their holdings of FCX. CM Management LLC raised its position in Freeport-McMoRan by 80.0% in the 3rd quarter. CM Management LLC now owns 36,000 shares of the natural resource company’s stock valued at $1,342,000 after purchasing an additional 16,000 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its position in Freeport-McMoRan by 6.4% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 345,917 shares of the natural resource company’s stock valued at $14,726,000 after acquiring an additional 20,894 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Freeport-McMoRan by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,508,085 shares of the natural resource company’s stock valued at $279,977,000 after acquiring an additional 102,466 shares during the last quarter. Cadinha & Co. LLC grew its stake in shares of Freeport-McMoRan by 59.0% in the 4th quarter. Cadinha & Co. LLC now owns 647,691 shares of the natural resource company’s stock valued at $27,572,000 after purchasing an additional 240,340 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd increased its holdings in shares of Freeport-McMoRan by 57.4% in the third quarter. Alphinity Investment Management Pty Ltd now owns 5,391,230 shares of the natural resource company’s stock valued at $201,039,000 after purchasing an additional 1,965,987 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FCX. Sanford C. Bernstein upgraded shares of Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $41.00 to $48.50 in a research note on Monday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a research note on Thursday, January 25th. HSBC boosted their target price on Freeport-McMoRan from $39.00 to $45.00 and gave the stock a “hold” rating in a research report on Tuesday. Raymond James boosted their price objective on Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, Bernstein Bank raised their target price on shares of Freeport-McMoRan from $52.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.15.

Freeport-McMoRan Stock Down 1.9 %

Shares of Freeport-McMoRan stock opened at $48.00 on Wednesday. The firm has a market cap of $68.85 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 2.25 and a beta of 2.04. The stock has a 50-day simple moving average of $44.02 and a 200-day simple moving average of $40.14. Freeport-McMoRan Inc. has a 52-week low of $32.83 and a 52-week high of $52.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38.

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

Freeport-McMoRan Dividend Announcement

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

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.