Natixis Advisors LLC Raises Holdings in Freeport-McMoRan Inc. $FCX

Natixis Advisors LLC grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 51.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & 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’s holdings in Freeport-McMoRan were worth $41,627,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $38,000. Key Financial Inc grew its position in shares of Freeport-McMoRan by 32.3% during the fourth quarter. Key Financial Inc now owns 828 shares of the natural resource company’s stock valued at $42,000 after purchasing an additional 202 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Freeport-McMoRan during the third quarter valued at about $33,000. Laurel Wealth Advisors LLC purchased a new position in shares of Freeport-McMoRan during the fourth quarter valued at about $43,000. Finally, YANKCOM Partnership grew its position in shares of Freeport-McMoRan by 83.3% during the fourth quarter. YANKCOM Partnership now owns 869 shares of the natural resource company’s stock valued at $44,000 after purchasing an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on FCX shares. Jefferies Financial Group set a $75.00 price objective on Freeport-McMoRan in a research report on Thursday, April 23rd. Stifel Nicolaus raised their price objective on Freeport-McMoRan from $52.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Raymond James Financial cut their price objective on Freeport-McMoRan from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Freeport-McMoRan in a research report on Friday, May 15th. Finally, Wells Fargo & Company dropped their price target on Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.04.

Freeport-McMoRan Trading Down 1.4%

FCX opened at $70.69 on Thursday. The firm has a market cap of $101.62 billion, a P/E ratio of 37.60, a P/E/G ratio of 0.86 and a beta of 1.35. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $72.09. The company has a current ratio of 2.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $63.08 and a 200 day moving average of $57.93.

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

Freeport-McMoRan Dividend Announcement

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

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.