4,000 Shares in Freeport-McMoRan Inc. (NYSE:FCX) Acquired by Lipe & Dalton

Lipe & Dalton purchased a new position in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,000 shares of the natural resource company’s stock, valued at approximately $170,000.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on FCX shares. Sanford C. Bernstein upgraded Freeport-McMoRan from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $41.00 to $48.50 in a report on Monday, January 8th. Bank of America upgraded Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a report on Tuesday, April 9th. Scotiabank lifted their price target on Freeport-McMoRan from $48.00 to $55.00 and gave the company a “sector outperform” rating in a report on Tuesday, April 9th. Raymond James lifted their price target on Freeport-McMoRan from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price target on shares of Freeport-McMoRan in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.71.

Freeport-McMoRan Stock Performance

FCX traded down $0.61 on Tuesday, reaching $49.41. 19,545,247 shares of the stock were exchanged, compared to its average volume of 13,666,134. The company’s 50-day moving average price is $42.69 and its 200 day moving average price is $39.59. Freeport-McMoRan Inc. has a fifty-two week low of $32.83 and a fifty-two 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. The firm has a market capitalization of $70.87 billion, a PE ratio of 39.39, a PEG ratio of 2.24 and a beta of 2.04.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Wednesday, January 24th. The natural resource company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Freeport-McMoRan had a return on equity of 8.41% and a net margin of 8.09%. The firm’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, sell-side analysts forecast that Freeport-McMoRan Inc. will post 1.6 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.15 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. Freeport-McMoRan’s 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.