Freeport-McMoRan Inc. (NYSE:FCX) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC increased its holdings in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,350 shares of the natural resource company’s stock after acquiring an additional 1,335 shares during the quarter. Procyon Advisors LLC’s holdings in Freeport-McMoRan were worth $994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. bought a new position in shares of Freeport-McMoRan in the first quarter valued at approximately $26,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Freeport-McMoRan in the 4th quarter valued at approximately $27,000. KB Financial Partners LLC purchased a new stake in shares of Freeport-McMoRan in the 1st quarter valued at approximately $26,000. Retirement Group LLC lifted its position in Freeport-McMoRan by 97.1% in the 2nd quarter. Retirement Group LLC now owns 670 shares of the natural resource company’s stock worth $27,000 after buying an additional 330 shares in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. purchased a new stake in Freeport-McMoRan in the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 80.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on FCX. UBS Group lowered their target price on shares of Freeport-McMoRan from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 13th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price objective on shares of Freeport-McMoRan in a report on Thursday, January 25th. Morgan Stanley cut their price target on shares of Freeport-McMoRan from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Thursday, December 7th. Raymond James boosted their target price on shares of Freeport-McMoRan from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Finally, Eight Capital set a $55.00 target price on shares of Freeport-McMoRan and gave the stock a “buy” rating in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.95.

Freeport-McMoRan Trading Up 1.1 %

Shares of NYSE:FCX traded up $0.49 during mid-day trading on Thursday, hitting $46.37. The company had a trading volume of 2,892,995 shares, compared to its average volume of 12,697,157. The firm has a fifty day moving average price of $40.08 and a 200 day moving average price of $38.62. The company has a market capitalization of $66.51 billion, a PE ratio of 36.14 and a beta of 2.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.42 and a quick ratio of 1.38. Freeport-McMoRan Inc. has a one year low of $32.83 and a one year high of $46.62.

Freeport-McMoRan (NYSE:FCX) last posted its quarterly earnings data on Wednesday, January 24th. The natural resource company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $5.85 billion. Freeport-McMoRan had a net margin of 8.09% and a return on equity of 8.41%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. As a group, research analysts forecast that Freeport-McMoRan Inc. will post 1.53 EPS for the current year.

Freeport-McMoRan Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. Freeport-McMoRan’s dividend payout ratio is presently 23.62%.

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.