Cadinha & Co. LLC raised its stake in Freeport-McMoRan Inc (NYSE:FCX) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 705,558 shares of the natural resource company’s stock after acquiring an additional 2,712 shares during the period. Freeport-McMoRan accounts for approximately 1.3% of Cadinha & Co. LLC’s portfolio, making the stock its 26th largest position. Cadinha & Co. LLC’s holdings in Freeport-McMoRan were worth $9,257,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allred Capital Management LLC acquired a new stake in shares of Freeport-McMoRan during the fourth quarter worth about $28,000. AdvisorNet Financial Inc boosted its stake in shares of Freeport-McMoRan by 908.6% during the third quarter. AdvisorNet Financial Inc now owns 3,036 shares of the natural resource company’s stock worth $29,000 after buying an additional 2,735 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Freeport-McMoRan during the third quarter worth about $30,000. Citizens Financial Group Inc RI boosted its stake in shares of Freeport-McMoRan by 6,082.1% during the third quarter. Citizens Financial Group Inc RI now owns 3,462 shares of the natural resource company’s stock worth $33,000 after buying an additional 3,406 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Freeport-McMoRan by 63.9% during the third quarter. Flagship Harbor Advisors LLC now owns 4,282 shares of the natural resource company’s stock worth $40,000 after buying an additional 1,669 shares during the period. Institutional investors own 71.18% of the company’s stock.

NYSE:FCX traded down $0.35 during mid-day trading on Thursday, reaching $11.98. The stock had a trading volume of 53,303,559 shares, compared to its average volume of 15,706,472. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 2.47. The firm has a market capitalization of $17.80 billion, a price-to-earnings ratio of -399.03 and a beta of 2.51. Freeport-McMoRan Inc has a twelve month low of $8.43 and a twelve month high of $14.68. The business has a 50 day simple moving average of $12.75 and a 200 day simple moving average of $10.88.

Freeport-McMoRan (NYSE:FCX) last announced its quarterly earnings data on Thursday, January 23rd. The natural resource company reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.69 billion. Freeport-McMoRan had a negative net margin of 0.22% and a positive return on equity of 0.91%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. As a group, sell-side analysts expect that Freeport-McMoRan Inc will post 0.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.67%. Freeport-McMoRan’s payout ratio is currently 13.16%.

Several equities research analysts have recently weighed in on FCX shares. Credit Suisse Group downgraded shares of Freeport-McMoRan from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $11.00 to $10.00 in a research note on Tuesday, January 14th. They noted that the move was a valuation call. Bank of America upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Wednesday, November 13th. Morgan Stanley reiterated an “overweight” rating and set a $13.30 target price on shares of Freeport-McMoRan in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of Freeport-McMoRan from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Finally, UBS Group upgraded shares of Freeport-McMoRan from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $13.00 to $12.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $13.48.

Freeport-McMoRan Company Profile

Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines; South America Mining; Indonesia Mining; Molybdenum Mines; Rod and Refining; Atlantic Copper Smelting and Refining; and Corporate, Other, and Eliminations.

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Institutional Ownership by Quarter for Freeport-McMoRan (NYSE:FCX)

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