Vanguard Personalized Indexing Management LLC Raises Position in Freeport-McMoRan Inc. $FCX

Vanguard Personalized Indexing Management LLC increased its position in Freeport-McMoRan Inc. (NYSE:FCX) by 7.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 160,022 shares of the natural resource company’s stock after buying an additional 10,842 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Freeport-McMoRan were worth $8,128,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Leo Wealth LLC raised its position in shares of Freeport-McMoRan by 2.5% in the 4th quarter. Leo Wealth LLC now owns 6,838 shares of the natural resource company’s stock worth $347,000 after buying an additional 170 shares during the period. Physician Wealth Advisors Inc. raised its position in shares of Freeport-McMoRan by 23.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 924 shares of the natural resource company’s stock worth $47,000 after buying an additional 176 shares during the period. Castle Rock Wealth Management LLC raised its position in shares of Freeport-McMoRan by 3.3% in the 4th quarter. Castle Rock Wealth Management LLC now owns 5,687 shares of the natural resource company’s stock worth $289,000 after buying an additional 180 shares during the period. GW&K Investment Management LLC raised its position in shares of Freeport-McMoRan by 11.1% in the 4th quarter. GW&K Investment Management LLC now owns 1,840 shares of the natural resource company’s stock worth $93,000 after buying an additional 184 shares during the period. Finally, Private Trust Co. NA raised its position in shares of Freeport-McMoRan by 6.7% in the 4th quarter. Private Trust Co. NA now owns 3,119 shares of the natural resource company’s stock worth $158,000 after buying an additional 195 shares during the period. 80.77% of the stock is owned by hedge funds and other institutional investors.

Freeport-McMoRan Stock Up 2.3%

Shares of Freeport-McMoRan stock opened at $69.99 on Tuesday. The business has a 50-day moving average of $64.41 and a 200-day moving average of $59.38. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.39 and a quick ratio of 1.13. The company has a market capitalization of $100.62 billion, a PE ratio of 37.23, a P/E/G ratio of 0.82 and a beta of 1.35. Freeport-McMoRan Inc. has a 1-year low of $35.15 and a 1-year high of $72.09.

Freeport-McMoRan (NYSE:FCX) last announced its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The company’s 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, equities analysts forecast that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on FCX shares. Sanford C. Bernstein increased their target price on Freeport-McMoRan from $53.50 to $58.50 and gave the stock a “market perform” rating in a research report on Wednesday, June 10th. Jefferies Financial Group increased their target price on Freeport-McMoRan from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Wells Fargo & Company cut their target price on Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, April 24th. Morgan Stanley reissued an “equal weight” rating and issued a $66.00 price objective (down from $70.00) on shares of Freeport-McMoRan in a research report on Friday, April 24th. Finally, Freedom Capital raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.31.

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.