Entropy Technologies LP Purchases Shares of 159,852 Freeport-McMoRan Inc. $FCX

Entropy Technologies LP purchased a new stake in shares of Freeport-McMoRan Inc. (NYSE:FCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 159,852 shares of the natural resource company’s stock, valued at approximately $8,119,000.

Several other institutional investors have also added to or reduced their stakes in FCX. Brighton Jones LLC boosted its position in Freeport-McMoRan by 24.2% during the 4th quarter. Brighton Jones LLC now owns 14,807 shares of the natural resource company’s stock valued at $564,000 after buying an additional 2,882 shares during the period. Bison Wealth LLC boosted its position in Freeport-McMoRan by 5.6% during the 4th quarter. Bison Wealth LLC now owns 9,616 shares of the natural resource company’s stock valued at $366,000 after buying an additional 507 shares during the period. Sivia Capital Partners LLC purchased a new stake in Freeport-McMoRan during the 2nd quarter valued at $560,000. Brown Advisory Inc. boosted its position in Freeport-McMoRan by 27.0% during the 2nd quarter. Brown Advisory Inc. now owns 12,443 shares of the natural resource company’s stock valued at $539,000 after buying an additional 2,648 shares during the period. Finally, Jump Financial LLC boosted its position in Freeport-McMoRan by 42.7% during the 2nd quarter. Jump Financial LLC now owns 50,114 shares of the natural resource company’s stock valued at $2,172,000 after buying an additional 14,992 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on FCX shares. CICC Research dropped their price target on shares of Freeport-McMoRan from $64.40 to $63.40 and set an “outperform” rating for the company in a research report on Tuesday, April 28th. Weiss Ratings raised shares of Freeport-McMoRan from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 22nd. Scotiabank dropped their price target on shares of Freeport-McMoRan from $71.00 to $67.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. Citigroup dropped their target price on shares of Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Barclays initiated coverage on shares of Freeport-McMoRan in a research report on Thursday, May 21st. They issued an “overweight” rating and a $77.00 target price for the company. Two equities 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.86.

Freeport-McMoRan Trading Up 2.9%

NYSE:FCX opened at $68.28 on Friday. The company has a 50-day moving average price of $64.24 and a 200-day moving average price of $59.05. 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 market cap of $98.15 billion, a price-to-earnings ratio of 36.32, a P/E/G ratio of 0.82 and a beta of 1.35.

Freeport-McMoRan (NYSE:FCX) last posted its 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. Freeport-McMoRan had a net margin of 10.34% and a return on equity of 9.88%. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the company posted $0.24 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts predict that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Announces Dividend

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

Freeport-McMoRan Profile

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.