Themes Management Co LLC Buys New Shares in Freeport-McMoRan Inc. $FCX

Themes Management Co LLC bought a new stake in Freeport-McMoRan Inc. (NYSE:FCX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,471 shares of the natural resource company’s stock, valued at approximately $633,000.

Several other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Freeport-McMoRan during the 4th quarter valued at about $38,000. JPL Wealth Management LLC acquired a new stake in Freeport-McMoRan during the third quarter worth about $33,000. Laurel Wealth Advisors LLC acquired a new stake in Freeport-McMoRan during the fourth quarter worth about $43,000. YANKCOM Partnership grew its holdings in Freeport-McMoRan by 83.3% during the fourth quarter. YANKCOM Partnership now owns 869 shares of the natural resource company’s stock worth $44,000 after acquiring an additional 395 shares during the period. Finally, Elyxium Wealth LLC acquired a new stake in Freeport-McMoRan during the fourth quarter worth about $45,000. 80.77% of the stock is owned by institutional investors and hedge funds.

Freeport-McMoRan Price Performance

NYSE:FCX opened at $61.92 on Tuesday. Freeport-McMoRan Inc. has a 52 week low of $35.15 and a 52 week high of $70.96. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $89.01 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 0.75 and a beta of 1.32. The stock’s 50-day moving average price is $61.47 and its 200-day moving average price is $56.62.

Freeport-McMoRan (NYSE:FCX) last posted its earnings results on Thursday, April 23rd. The natural resource company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.The firm had revenue of $6.23 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the firm earned $0.24 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were given a dividend of $0.075 per share. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is 15.96%.

Analyst Ratings Changes

Several analysts recently commented on FCX shares. UBS Group raised their target price on Freeport-McMoRan from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Jefferies Financial Group set a $75.00 target price on Freeport-McMoRan in a report on Thursday, April 23rd. Wells Fargo & Company dropped their target price on Freeport-McMoRan from $77.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, April 24th. JPMorgan Chase & Co. dropped their target price on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Finally, BNP Paribas Exane dropped their target price on Freeport-McMoRan from $75.00 to $71.00 and set an “outperform” rating on the stock in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.72.

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.