Citizens Financial Group Inc. RI Has $8.11 Million Stock Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Citizens Financial Group Inc. RI lessened its position in Freeport-McMoRan Inc. (NYSE:FCX) by 2.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 190,527 shares of the natural resource company’s stock after selling 3,863 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Freeport-McMoRan were worth $8,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new stake in Freeport-McMoRan in the 4th quarter valued at approximately $27,000. BluePath Capital Management LLC bought a new position in Freeport-McMoRan in the third quarter valued at approximately $28,000. Webster Bank N. A. grew its stake in Freeport-McMoRan by 6,469.2% in the fourth quarter. Webster Bank N. A. now owns 854 shares of the natural resource company’s stock valued at $36,000 after purchasing an additional 841 shares in the last quarter. CVA Family Office LLC bought a new position in Freeport-McMoRan in the fourth quarter valued at approximately $38,000. Finally, Orion Capital Management LLC bought a new position in Freeport-McMoRan in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Argus raised their price target on Freeport-McMoRan from $44.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank decreased their price target on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating for the company in a research note on Wednesday. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target for the company in a research note on Tuesday, April 9th. StockNews.com upgraded Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $41.00 to $48.50 in a research note on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.07.

Freeport-McMoRan Stock Performance

FCX opened at $50.50 on Friday. The business has a fifty day simple moving average of $44.70 and a 200 day simple moving average of $40.38. The company has a market capitalization of $72.44 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 8.18 and a beta of 2.04. Freeport-McMoRan Inc. has a 1 year low of $32.83 and a 1 year high of $52.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.38.

Freeport-McMoRan (NYSE:FCX) last released its quarterly earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business 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 7.17% and a net margin of 6.97%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. Research analysts expect that Freeport-McMoRan Inc. will post 1.67 EPS for the current year.

Freeport-McMoRan Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 annualized dividend and a yield of 1.19%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

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.