Greenline Partners LLC Buys 1,853 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Greenline Partners LLC lifted its stake in Freeport-McMoRan Inc. (NYSE:FCX) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,327 shares of the natural resource company’s stock after buying an additional 1,853 shares during the period. Greenline Partners LLC’s holdings in Freeport-McMoRan were worth $3,706,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Asset Planning Inc bought a new stake in shares of Freeport-McMoRan during the fourth quarter valued at approximately $25,000. Mizuho Bank Ltd. acquired a new stake in Freeport-McMoRan during the fourth quarter worth $26,000. Vision Financial Markets LLC bought a new stake in Freeport-McMoRan in the 4th quarter valued at $27,000. Laurel Wealth Advisors LLC raised its stake in shares of Freeport-McMoRan by 487.8% in the 4th quarter. Laurel Wealth Advisors LLC now owns 723 shares of the natural resource company’s stock valued at $28,000 after buying an additional 600 shares in the last quarter. Finally, Roxbury Financial LLC bought a new position in shares of Freeport-McMoRan during the 4th quarter worth about $28,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Trading Up 0.7 %

Shares of NYSE FCX opened at $37.76 on Friday. Freeport-McMoRan Inc. has a 1-year low of $27.66 and a 1-year high of $55.24. The company has a current ratio of 2.42, a quick ratio of 1.18 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $36.29 and a two-hundred day moving average of $39.23. The company has a market cap of $54.26 billion, a PE ratio of 29.27, a P/E/G ratio of 0.87 and a beta of 1.65.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.59%. Freeport-McMoRan’s payout ratio is 24.79%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wolfe Research raised shares of Freeport-McMoRan from a “peer perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research note on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft raised Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday, March 6th. Dbs Bank raised Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 10th. BMO Capital Markets dropped their price objective on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $50.00 price objective (up from $48.00) on shares of Freeport-McMoRan in a report on Friday, April 25th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Freeport-McMoRan has a consensus rating of “Moderate Buy” and an average target price of $48.09.

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.