Natixis Advisors LLC Acquires 278,525 Shares of Freeport-McMoRan Inc. $FCX

Natixis Advisors LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 51.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 819,594 shares of the natural resource company’s stock after purchasing an additional 278,525 shares during the period. Natixis Advisors LLC owned about 0.06% of Freeport-McMoRan worth $41,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan in the 4th quarter worth $38,000. Key Financial Inc boosted its stake in shares of Freeport-McMoRan by 32.3% in the 4th quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock worth $42,000 after buying an additional 202 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Freeport-McMoRan in the 3rd quarter worth $33,000. Laurel Wealth Advisors LLC purchased a new position in shares of Freeport-McMoRan in the 4th quarter worth $43,000. Finally, YANKCOM Partnership boosted its stake in shares of Freeport-McMoRan by 83.3% in the 4th quarter. YANKCOM Partnership now owns 869 shares of the natural resource company’s stock worth $44,000 after buying an additional 395 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $70.69 on Thursday. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The business’s 50-day simple moving average is $63.08 and its two-hundred day simple moving average is $57.93. The stock has a market cap of $101.62 billion, a PE ratio of 37.60, a P/E/G ratio of 0.86 and a beta of 1.35. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $72.09.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. As a group, analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 15.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FCX shares. JPMorgan Chase & Co. dropped their price target on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. HSBC raised 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. Morgan Stanley restated an “equal weight” rating and issued a $66.00 price target (down from $70.00) on shares of Freeport-McMoRan in a research note on Friday, April 24th. Finally, Jefferies Financial Group set a $75.00 price target on Freeport-McMoRan in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.04.

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.