Golden State Equity Partners Has $541,000 Stock Position in Freeport-McMoRan Inc. (NYSE:FCX)

Golden State Equity Partners lowered its holdings in Freeport-McMoRan Inc. (NYSE:FCX) by 6.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,716 shares of the natural resource company’s stock after selling 923 shares during the quarter. Golden State Equity Partners’ holdings in Freeport-McMoRan were worth $541,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Freeport-McMoRan by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 119,369,409 shares of the natural resource company’s stock worth $4,451,285,000 after purchasing an additional 305,912 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Freeport-McMoRan by 4.2% during the 3rd quarter. Northern Trust Corp now owns 17,756,034 shares of the natural resource company’s stock worth $662,123,000 after purchasing an additional 709,114 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Freeport-McMoRan by 18.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,393,868 shares of the natural resource company’s stock worth $238,427,000 after purchasing an additional 986,703 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd boosted its stake in Freeport-McMoRan by 15.6% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 6,232,130 shares of the natural resource company’s stock valued at $265,302,000 after buying an additional 840,900 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.

Freeport-McMoRan Trading Up 2.2 %

Shares of FCX stock traded up $1.10 on Friday, reaching $50.50. 19,037,059 shares of the stock were exchanged, compared to its average volume of 16,097,275. The stock has a market cap of $72.44 billion, a PE ratio of 44.67, a P/E/G ratio of 8.00 and a beta of 2.04. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $52.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.35 and a quick ratio of 1.38. The stock has a 50 day moving average price of $44.47 and a 200 day moving average price of $40.26.

Freeport-McMoRan (NYSE:FCX) last released its earnings results on Tuesday, April 23rd. The natural resource company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Freeport-McMoRan had a return on equity of 7.17% and a net margin of 6.97%. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. Equities research analysts forecast that Freeport-McMoRan Inc. will post 1.67 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. Freeport-McMoRan’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com raised Freeport-McMoRan from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America raised Freeport-McMoRan from a “neutral” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, April 9th. Bernstein Bank boosted their price target on Freeport-McMoRan from $52.00 to $52.50 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James boosted their price target on Freeport-McMoRan from $49.50 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Scotiabank decreased their price target on Freeport-McMoRan from $55.00 to $53.00 and set a “sector outperform” rating on the stock in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Freeport-McMoRan presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.07.

Freeport-McMoRan 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.